Cipher Mining (NASDAQ: CIFR) has acquired a 200 MW site in Ohio to support high-performance computing workloads, according to a company press release on Tuesday.
Dubbed Ulysses and covering 195 acres, the site includes secured capacity from AEP Ohio and all necessary interconnection approvals. Cipher expects to energize the facility in the fourth quarter of 2027.
Operations at Ulysses will connect directly to the PJM market, and the location offers diverse fiber paths and proximity to a metropolitan hub.
This transaction is the first acquisition that Cipher has made outside of Texas. The total development pipeline for Cipher now stands at 3.4 gigawatts across eight sites.
The acquisition follows a period of commercial activity for Cipher in November. The company signed a hosting agreement with Fluidstack on November 20. That deal covers 56 megawatts and spans a 10-year term for AI hosting.
Cipher also secured capital recently to fund its growth initiatives, with the company pricing $333 million of additional senior secured notes on November 20.
CIFR dropped 3% during pre-market trading hours following the announcement.
Header image by Carl Schlabach via Unsplash.
