Cipher Stock Soars 10% Pre-Market Today Following $3 Billion Deal With Fluidstack
Synopsis
Under the terms of the 10-year colocation partnership, Cipher will allocate 168 megawatts of dedicated IT power, supported by up to 244 MW in total infrastructure capacity.
Cipher Mining Inc. (CIFR) stock soared over 10% higher on Thursday after the company entered into a ten-year agreement with Fluidstack, an artificial intelligence cloud platform provider.
Under the terms of the 10-year colocation partnership, Cipher will allocate 168 megawatts (MW) of dedicated IT power, supported by up to 244 MW in total infrastructure capacity, at its Barber Lake campus in Colorado City, Texas. The deal is expected to yield around $3 billion in revenue for Cipher over the initial contract period.
Following the announcement, the stock became the second-most trending equity ticker on Stocktwits.
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