Google has acquired a 5.4% stake in Bitcoin miner Cipher Mining as part of a $3 billion, 10-year data center agreement with AI infrastructure company Fluidstack.
According to Thursday’s announcement, Google secured the stake by guaranteeing $1.4 billion of Fluidstack’s obligations in the contract with Cipher. In return, Cipher will lease 168 megawatts of computing power, backed by up to 244 MW of gross capacity, at its Barber Lake site in Colorado City, Texas. The facility has the potential to scale to 500 MW across 587 acres of land.
This deal follows Google’s recent move in August, where it became the largest shareholder of Bitcoin miner TeraWulf after acquiring a 14% stake through another Fluidstack-backed agreement.
Cipher CEO Tyler Page highlighted the significance of the partnership, stating that it reinforces the company’s high-performance computing (HPC) growth strategy. He added, “This is just the beginning of several opportunities in the HPC space as we scale our capabilities.”
The move reflects a growing trend of Bitcoin mining firms pivoting into AI computing. CleanSpark recently raised $100 million for AI infrastructure, while Hive Digital also expanded its GPU and HPC services, reporting record revenues.
A recent analysis from The Miner Mag noted that Bitcoin mining stocks are outperforming BTC itself, with investors rewarding miners pursuing AI-focused strategies.
