TheBigBerbowski(@TheBigBerbowski):$CIFR just made Barber Lake a much more valuable long-term asset. The site was originally contracted for 10 years with Fluidstack. Cipher has now secured a second 10 year commitment from another leading AI lab, which starts after the first lease ends. That adds roughly $5.2B of contracted revenue and takes Barber Lake to more than $9B of total contracted revenue over 20 years. Cipher will absorb the first $359.3M of cost overruns above the original budget; after that, the tenant reimburses 50% through additional rent. This does not suddenly boost near term earnings, but it improves backlog and lowers long term re leasing risk.

2026.09.25 12:29

$CIFR just made Barber Lake a much more valuable long-term asset. The site was originally contracted for 10 years with Fluidstack. Cipher has now secured a second 10 year commitment from another leading AI lab, which starts after the first lease ends. That adds roughly $5.2B of contracted revenue and takes Barber Lake to more than $9B of total contracted revenue over 20 years. Cipher will absorb the first $359.3M of cost overruns above the original budget; after that, the tenant reimburses 50% through additional rent. This does not suddenly boost near term earnings, but it improves backlog and lowers long term re leasing risk.

TheBigBerbowski@TheBigBerbowski

2026.09.25 12:24

$CIFR Expands Barber Lake Lease Term to 20 Years, Increasing Revenue to Over $9 Billion