Cipher Mining Acquires New Bitcoin Mining Site In Texas

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