The race for publicly traded Bitcoin miners to acquire more data centre infrastructure is heating up.
What’s happening:
- Cipher Mining (NASDAQ: CIFR) has purchased a new data centre located in West Texas to expand their operations
By the numbers:
- The new data centre has 100 megawatts of capacity and will be able to purchase power at $1.50 megawatt hour
- Cipher Mining paid $4.1M USD in cash for acquisition
Why it matters:
- Cipher Mining has been quickly scaling up their ambitions around high performance computing, with multiple data centre projects currently being constructed in an effort to land a large scale deal for artificial intelligence workloads and GPU accessibility
Going deeper:
- Galaxy Digital (TSX: GLXY) just recently launched a financing round to raise hundreds of millions dollars to scale up their data centre Helios which is also located in Texas for high performance computing
- Core Scientific (NASDAQ: CORZ) and CoreWeave also just recently broke ground on their newest data centre for high performance computing and machine learning infrastructure located in Oklahoma
