AI infrastructure firm Fluidstack has entered a three billion dollar agreement to provide 168 MW of critical IT load to cryptocurrency mining company Cipher.
Under the arrangement, Google will backstop $1.4 billion of Fluidstack’s lease obligations in exchange for approximately 24 million shares of Cipher common stock, giving the Mountain View company a 5.4% stake.
Google Expands Crypto Mining Infrastructure Investments
The deal is for 10 years with provisions for two five-year extension options. According to a Sept. 25 press release, the contract represents approximately $3 billion in revenue over the initial 10-year term, but if the extensions are activated that figure would rise to about $7 billion.
This is the second Fluidstack deal Google has backstopped in as many months. In August, as Coinspeaker reported, data center infrastructure firm TeraWulf signed a HPC colocation agreement with Fluidstack worth at least $3.7 billion. Google backstopped TeraWulf’s obligati
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