A strategic shift has led to multibillion-dollar contracts for Cipher Mining.
Once purely a Bitcoin mining company, Crypto mining (CIFR +7.31%) announced a shift toward high-performance computing (HPC) at the end of 2024. For now, it still depends on mining operations. During the first three quarters of 2025, she earned $164.2 million, entirely from Bitcoin mining.
Although the HPC infrastructure initiative is not yet reflected in Cipher’s financial results, early indications suggest it could unlock significant new revenue streams.
Image source: Getty Images.
Cipher Mining has already concluded major contracts
Many mining companies have shifted their operations towards artificial intelligence (AI) and HPC data centers in recent years. What sets Cipher apart is that it quickly closed massive deals with major tech companies.
In September 2025, Cipher announced an HPC colocation agreement with Fluidstack, an AI cloud platform. The initial 10-year term is worth about $3 billion, and the deal includes two five-year extension options that would bring the total value to about $7 billion. In November, Cipher and Fluidstack signed an additional AI hosting deal worth approximately $830 million, or approximately $2 billion if both expansions are exercised.
Also in November, Cipher announced a 15-year lease agreement with Amazon Web Services (AWS) to provide turnkey space and power for AI workloads. The deal is worth about $5.5 billion.
Today’s change
(7.31%) $1.28
Current price
$6:80 p.m.
Key Data Points
Market capitalization
$7.4 billion
Daily scope
$17.21 -$7:70 p.m.
52 week range
$1.86 -$25.52
Volume
46M
Average flight
39M
Gross margin
-5486.31%
Cipher stock is up 255% over the last year and now trades at 32 times sales as of January 12. It’s expensive by that measure, but sales could grow quickly in 2026. Rent payments are expected to begin in August for the AWS deal and in October for the Fluidstack deal.
Each deal could generate hundreds of millions of dollars in annual revenue for Cipher. With this in mind, and given the growing demand for AI infrastructure, this blockchain stock could have huge growth potential.
Lyle Daly has positions in Bitcoin. The Motley Fool holds positions and recommends Amazon and Bitcoin. The Motley Fool has a disclosure policy.
