Cipher expands beyond Texas with Ohio power site

Cipher Mining has acquired a large power site in Ohio.

The acquisition marks Cipher’s first expansion outside its Texas operations.

The Ohio site provides entry into the PJM wholesale electricity market.

PJM is the largest wholesale power market in the United States.

The acquired facility is known internally as the Ulysses site.

The property spans roughly one hundred ninety five acres of land.

Cipher secured approximately two hundred megawatts of power capacity.

Power supply agreements were finalised with AEP Ohio.

Utility and interconnection agreements are already fully in place.

The site is expected to be energised during the fourth quarter.

Target energisation is planned for the year twenty twenty seven.

Cipher did not disclose the financial terms of the transaction.

The company said the site supports Bitcoin mining operations.

Management also highlighted suitability for data centres and HPC workloads.

Demand from hyperscale cloud providers continues to accelerate rapidly.

Hyperscalers seek large scale sites with long term power certainty.