Bitcoin Miner Cipher Acquires New 100 MW Site in West Texas

Bitcoin mining firm Cipher announced on Tuesday the acquisition of a new site in West Texas, known as Stingray, with a power capacity of up to 100 megawatts (MW).

According to the announcement, Cipher closed the transaction for a cash payment of $4.1 million and a variable fee of $1.50 per megawatt-hour for the first five years after the site becomes operational.

The company said that the site includes up to 100 MW of capacity, regulatory approvals, 250 acres of land adjacent to transmission assets, and a completed facility extension agreement with Oncor, Texas’s largest transmission and distribution electric utility.

“With the addition of this site, we now have a data center scheduled to energize in 2026 that complements our other new data centers scheduled to energize in 2025 and 2027,” said Cipher CEO Tyler Page.

Since announcing the acquisition of a second 300 MW site in Texas in August, Cipher has been liquidating larger portions of its Bitcoin reserves. It sold 611% and 151% of its monthly Bitcoin production in September and October, respectively, reducing its Bitcoin holdings to 1,428 BTC as of Oct. 31.