Cipher Mining Stock Climbs 5% on News of Google AI Collaboration

Google is deepening its AI infrastructure ambitions through a 10-year hosting partnership with Fluidstack, which includes acquiring warrants for roughly 24 million shares of Cipher Mining (CIFR), representing a 5.4% equity stake.

Under the agreement, Google will also backstop $1.4 billion of Fluidstack’s lease obligations, supporting project financing. The deal is valued at approximately $3 billion over the initial term and could rise to $7 billion with two optional five-year extensions. Cipher plans to deliver 168 megawatts of IT capacity at its Lake Barber site in Colorado City, Texas, by September 2026 while maintaining full project ownership and tapping capital markets for additional funding.

Cipher’s shares initially surged as much as 20% following the announcement before moderating to a 5% premarket gain. The stock has climbed nearly sevenfold since April, reflecting bitcoin miners’ strategic pivot toward high-performance computing and AI infrastructure.