Cipher Mining's Strategic Acquisition: A 300 Megawatt Data Center in West Texas
Tuesday, 27 August 2024, 14:24
Cipher Mining Expands Data Center Portfolio
Cipher Mining (NASDAQ:CIFR) has entered into a term sheet to acquire a new data center site located in West Texas for $67.5 million in cash. This acquisition enhances Cipher Mining's infrastructure and operational capabilities.
Details of the Acquisition
The strategic expansion includes:
- Acquisition of a 300 megawatt data center
- Transaction anticipated to close in September
- Strengthening operational capacity for cryptocurrency mining
With this acquisition, Cipher Mining aims to solidify its position in the ever-competitive cryptocurrency sector.
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