Cipher Mining Inc. (NASDAQ:CIFR) is one of the best cryptocurrency stocks to buy for the long term. On November 20, Cipher Mining Inc. (NASDAQ:CIFR) said it had struck a 10-year AI-hosting agreement with Fluidstack valued at roughly $830 million. The deal will bring the company’s Barber Lake facility in Texas up to its full 300-megawatt capacity. It also includes options that could push total contracted revenue to about $2 billion and potentially lift the overall value of the partnership to around $9 billion. Google has reinforced the arrangement with a $333 million lease guarantee, bringing its total backing to approximately $1.73 billion.
Cipher plans to finance the site build-out through project debt along with $118 million in equity. The company expects construction costs to fall in the $9–10 million-per-megawatt range, with anticipated margins of 85% to 90%. CEO Tyler Page said the agreement underscores Cipher’s position in high-performance computing and reflects the momentum behind its expansion plans.
On November 19, Citizens initiated coverage of Cipher Mining with a Market Outperform rating and a price target of $30. The firm pointed to Cipher’s shift away from pure bitcoin mining and toward tapping its 3.8-gigawatt power pipeline in Texas, an asset it believes could justify a valuation north of $90 over time. Analyst Greg Miller said the company’s buildout plans for 2026 give it a rare position in the high-performance computing market, with capacity that could compete with large projects such as Stargate and help establish Cipher as a major data-center operator.
Earlier on November 13, the company completed a private offering of $1.4 billion in 7.125% senior secured notes due 2030. The bolstered balance sheet allows the company to finance the construction costs of its Barber Lake facility, a high-performance computing data center.
Cipher Mining Inc. (NASDAQ:CIFR) develops and operates industrial-scale data centers for both Bitcoin mines and high-performance computing (HPC). The company operates Bitcoin mining facilities, focusing on the use of sustainable and efficient energy, and is expanding to include data center capacity for other applications, such as AI and HPC.
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Disclosure: None. This article is originally published at Insider Monkey.
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