Bitcoin mining company Cipher Mining announced on Tuesday the acquisition of a new mining site named Stingray located in West Texas, with a power generation capacity of up to 100 megawatts (MW). Cipher completed the transaction with a cash payment of $4.1 million and a floating fee of $1.50 per megawatt-hour for the first five years after the site becomes operational. The site includes a capacity of up to 100 MW, regulatory approvals, 250 acres of land adjacent to transmission assets, and an agreement for facility expansion with Texas's largest transmission and distribution company Oncor. Cipher CEO Tyler Page stated, "With the addition of this site, we now have a data center planned to be operational in 2026, which will complement our other new data centers planned for 2025 and 2027."
