Cipher Mining rockets 32% after $5.5B data center deal with Amazon

Fellow miner IREN also signed a multi-year GPU cloud services contract with Microsoft worth $9.7 billion on Monday.

Bitcoin mining company Cipher Mining surged more than 32% after revealing a new 15-year deal with tech giant Amazon, adding to a wave of partnerships between major technology companies and crypto miners.

The 15-year lease agreement with Amazon Web Services, valued at $5.5 billion, requires Cipher to provide turnkey space and power for AI workloads in two phases, starting in July and August next year, the Bitcoin (BTC) miner announced on Monday.

Cipher Mining also posted a significantly narrowed net loss of $3 million and a rise in adjusted earnings of $41 million for the third quarter, compared to a net loss of $46 million and adjusted earnings of $30 million in the previous quarter.

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