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Crypto miner Cipher Mining (CIFR) soared nearly 20% in pre-market on Monday after announcing a $5.5 billion, 15-year deal with Amazon Web Services (AWS) to supply power and space for artificial intelligence (AI) workloads. The agreement marks one of the largest partnerships yet between a crypto mining firm and a major cloud provider. “The third quarter was truly transformative for Cipher,” CEO Tyler Page said. “We executed a pivotal transaction with Fluidstack and Google, and now we’re taking another major step forward by signing our first direct lease with a Tier 1 hyperscaler.” Founded in 2021 and publicly listed on Nasdaq, Cipher started as a large-scale Bitcoin mining firm. But like many of its peers, it’s moving away from relying purely on crypto rewards after Bitcoin’s 2024 halving cut block subsidies in half. Its latest deal with AWS will see Cipher deliver 300 megawatts of capacity beginning July 2026, with full deployment by the end of that year. Rent payments will start in August 2026, according to the company. The project includes both air- and liquid-cooled racks, technology typically used for high-end AI training clusters that require enormous power and heat management. Cipher’s stock soars on the news Cipher’s shares were up 19.9% in premarket trading, hitting $22.37 as of 07:20 ET, according to Yahoo Finance. The stock had closed at $18.65 the previous session. Scroll to Continue Recommended Articles Investors appear to see the AWS partnership as a strong signal that Cipher can expand beyond volatile Bitcoin mining revenue into the more stable, long-term market of AI infrastructure. The announcement followed the company’s third-quarter results, where Cipher reported $72 million in revenue and adjusted earnings of $0.10 per share, roughly matching market expectations. A new 1-gigawatt campus in Texas Cipher also revealed plans for a 1-gigawatt site in West Texas, called Colchis, which will support future AI hosting projects. The company expects to own about 95% of the venture. The project includes a Direct Connect Agreement with American Electric Power, which will build the interconnection facilities needed to power the site by 2028. The 620-acre property sits next to an existing substation — a major advantage in a state that’s become a hotspot for both crypto mining and AI data centers thanks to low energy costs and a flexible grid. “As the industry evolves, our thesis that major tech players would turn to Cipher is proving right,” Page said. “We’re confident we’re among the best-positioned companies to seize new opportunities created by the growing power shortfall.” More News: Analyst who predicted 'Liberation Day' crash says Trump should ask China to buy 'Bitcorns' Elon Musk is a Polymarket user U.S. makes shocking move to counter China’s de-dollarization push Financial outlook Cipher’s latest report showed a $3 million quarterly loss, down sharply from $86 million a year ago, thanks to stronger operational efficiency and higher Bitcoin prices earlier in 2025. The firm’s adjusted earnings hit $41 million, compared with a $3.4 million loss in 2024. The company also completed a $1.3 billion convertible note offering during the quarter, giving it additional liquidity to fund data center construction and power expansion.
