Cipher Mining (CIFR) jumped 19% on Monday after signing a $5.5 billion lease agreement with Amazon Web Services (AWS), pushing deeper into the red-hot artificial intelligence (AI) infrastructure.
The 15-year agreement will see Cipher deliver 300 megawatts (MW) of power capacity to AWS by late 2026, with the first phase starting in July, according to the firm’s press release. The facilities will include both air and liquid-cooled racks, key features for the kind of high-performance computing (HPC) AI models require.
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