The company announced a major $5.5 billion, 15-year lease agreement with Amazon Web Services (AWS) to deliver 300 MW of AI capacity starting in 2026, with rent commencing in August 2026.
Cipher also formed a joint venture to develop Colchis, a 1-GW site in West Texas, where it will hold about 95% equity. The site has a 1-GW Direct Connect Agreement with AEP, targeting energization in 2028, pending ERCOT approval.
Additional highlights include a 3.2-GW development pipeline, completion of a $1.3 billion convertible note offering, and a 10-year AI hosting agreement with Fluidstack and Google.
