Cipher Mining has acquired a 200-megawatt energy web site in Ohio referred to as “Ulysses,” marking its first enlargement exterior of Texas and entry into the PJM wholesale electrical energy market, the biggest energy market in america.
In accordance with Tuesday’s announcement, the 195-acre web site has secured energy capability from AEP Ohio, with all required utility agreements in place, and is predicted to be energized within the fourth quarter of 2027.
Cipher stated the power is appropriate for high-performance computing and information heart use along with Bitcoin (BTC) mining. Monetary phrases of the transaction weren’t disclosed.
The transfer goals to satisfy rising demand from hyperscalers, giant cloud computing corporations akin to Amazon Net Companies and Google Cloud, for information facilities. “Hyperscalers are driving unprecedented demand for large-scale websites,” stated Cipher CEO Tyler Web page, including that the corporate’s new web site will give it extra capability to broaden its high-performance computing (HPC) internet hosting enterprise.
Supply: Cipher Mining
The deal follows a broader push by publicly listed Bitcoin miners into energy, information heart and manufacturing infrastructure past conventional mining.
Hut 8, as an illustration, lately signed a 15-year lease value about $7 billion to provide 245 megawatts of AI information heart capability at its River Bend campus in Louisiana, with infrastructure supplier Fluidstack because the tenant and Google backing lease funds.
A couple of days later, Bitdeer leased about 188,000 sq. ft at a logistics facility in Sparks, Nevada, to broaden its US manufacturing footprint, in accordance with The Miner Magazine.
Associated: How Bhutan is constructing a inexperienced Bitcoin financial system from the bottom up
Bitcoin mining hashprice places strain on miners
The Bitcoin mining hash worth, a key measure of miner income per unit of computing energy, has been under $40 since mid-November, a stage many operators view as breakeven. The stoop has pressured mining corporations to reassess their working fashions as margins throughout the sector stay below strain.
Bitcoin hash worth over the previous three months. Supply: Hashrate Index
Whereas many miners have sought diversification via AI and HPC demand, some are additionally turning to renewable power as a strategy to decrease prices and stabilize profitability.
Sangha Renewables lately introduced a 20-megawatt solar-powered mining facility on-line in Ector County, Texas, whereas Phoenix Group launched a 30-megawatt hydro-powered operation in Ethiopia in November.
Individually, Canaan partnered with Soluna in September to deploy mining capability at a wind-powered web site in Texas and is creating adaptive mining rigs that use AI to optimize power effectivity.
Regardless of the mounting strain on mining economics, Bitcoin mining shares have rallied sharply in 2025, signaling that public markets are more and more centered on miners’ long-term strategic positioning quite than near-term Bitcoin manufacturing alone.
Among the many prime 5 publicly traded miners, IREN Restricted is up roughly 331% year-to-date, adopted by Utilized Digital (246%), Cipher Mining (250%), Hut 8 (160%), and Riot Platforms (36%), in accordance with information from Google Finance.
Iren Restricted YTD inventory worth. Supply: Google Finance
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