Cipher Mining (CIFR) shares jumped 19% after the firm entered a $5.5 billion, 15-year lease agreement with Amazon Web Services (AMZN) to provide turnkey space and power for AI workloads.
Under the terms of this lease agreement, Cipher will deliver 300 MW of capacity in 2026 across two phases starting in July 2026, with rent beginning in August 2026. The company also announced a joint entity to develop a 1-GW “Colchis” site in West Texas, where Cipher will hold about 95% equity.
The site includes a fully executed 1-GW Direct Connect Agreement with American Electric Power (AEP), under which AEP will construct the necessary dual interconnection facility for a targeted energization in 2028.
The announcement was made alongside Cipher’s third quarter 2025 financial results, which missed Wall Street estimates. The company generated adjusted EPS of $0.10 on revenue of $71.71M (+197.6% Y/Y). Net loss per share (diluted) narrowed from -$0.26 in the prior year quarter to -$0.01.