Cipher Mining has acquired a 200-megawatt energy plant in Ohio referred to as “Ulysses,” marking its first enlargement outdoors of Texas and its entry into the PJM wholesale electrical energy market, the biggest vitality market in the USA.
In line with Tuesday’s announcement, the 195-acre website has secured energy capability from AEP Ohio, with all required utility agreements, and is predicted to be energized within the fourth quarter of 2027.
Cipher mentioned 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 information heart demand from hyperscalers, giant cloud computing corporations similar to Amazon Internet Providers and Google Cloud. “Hyperscalers are driving unprecedented demand for large-scale websites,” mentioned Tyler Web page, CEO of Cipher, including that the corporate’s new website will give it further capability to develop its high-performance computing (HPC) internet hosting enterprise.
Fountain: Crypto mining
The deal follows a broader push by publicly traded Bitcoin miners into vitality infrastructure, information facilities and manufacturing infrastructure past conventional mining.
Hut 8, for instance, not too long ago signed a 15-year lease price about $7 billion to provide 245 megawatts of AI information heart capability at its River Bend campus in Louisiana, with infrastructure supplier Fluidstack as a tenant and Google supporting lease funds.
A couple of days later, Bitdeer leased about 188,000 sq. ft at a logistics facility in Sparks, Nevada, to develop its U.S. manufacturing footprint, in keeping with The Miner Magazine.
Associated: How Bhutan is constructing a inexperienced Bitcoin economic system from the bottom up
Bitcoin mining hash value places strain on miners
The Bitcoin mining hash value, a key measure of miners’ revenue per unit of computing energy, has been beneath $40 since mid-November, a stage many merchants think about a break-even level. The droop has pressured mining corporations to re-evaluate their working fashions as margins throughout the sector stay below strain.
Bitcoin hash value over the past three months. Fountain: Hash price index
Whereas many miners have sought to diversify by means of demand for AI and HPC, some are additionally turning to renewable vitality as a solution to scale back prices and stabilize profitability.
Sangha Renewables not too long ago commissioned a 20-megawatt solar-powered mining facility in Ector County, Texas, whereas Phoenix Group launched a 30-megawatt hydroelectric operation in Ethiopia in November.
Individually, Canaan partnered with Soluna in September to deploy mining capability at a wind vitality website in Texas and is creating adaptive mining platforms that use synthetic intelligence to optimize vitality effectivity.
Regardless of growing strain on the mining economic system, Bitcoin mining shares have rallied strongly in 2025, indicating that public markets are more and more centered on the long-term strategic positioning of miners somewhat than simply short-term Bitcoin manufacturing.
Among the many high 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 keeping with information from Google Finance.
Iren Restricted share value to this point. Fountain: Google Finance
Journal: Massive Questions: Would Bitcoin Survive a 10-12 months Blackout?
