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Cipher Mining Inc. (NASDAQ:CIFR) is among the AI Shares on Market Radar. On December 23, Compass Level reiterated a “Purchase” score on the inventory with $28 worth goal. Agency analysts view Ulysses website as a strategic win for CIFR, aligned with HPC development ambitions.
Cipher Mining introduced on Tuesday that it has acquired a 200MW Ulysses website in Ohio, representing its first ever acquisition exterior of Texas.
“Cipher Mining is busier than Santa’s helpers with this morning’s announcement of its 200MW Ulysses website in Ohio, representing the corporate’s first acquisition exterior of Texas and a transparent proof-point that administration is actively sourcing past ERCOT.”
Based on Tyler Web page, CEO of Cipher, Hyperscalers have been driving unprecedented demand for large-scale websites, and Cipher is constant to grab the chance by shaping the way forward for high-performance computing infrastructure.
The brand new website provides CIFR extra capability to proceed increasing its HPC internet hosting enterprise. Compass Level famous how this acquisition provides CIFR entry into the PJM market, which is a key area for AI and HPC demand.
The Ulysses website contains 195 acres of land with secured capability from AEP Ohio, having all essential utility agreements and interconnection approvals in place. It’s anticipated to start operations within the fourth quarter of 2027.
“Strategically, we view PJM-located capability as carrying a premium given the density of end-demand, and Ulysses’ 4Q27 go-live offers a extra materials bridge of deliverable MWs forward of the corporate’s bigger wave of web sites anticipated to come back on-line in 2028. With energization focused in 4Q27 and RFS largely aligning, the positioning is positioned as a medium-term HPC-ready asset given its acreage, availability of numerous fiber paths, and proximity to a significant metropolitan space, in line with Cipher’s broader push to broaden its HPC internet hosting footprint alongside its core bitcoin mining operations.
The agency describes the power as “shopping for de-risked time-to-power stock,” with decreased early-stage friction because of settled interconnection and utility agreements. It anticipates near-term worth creation to come back from internet hosting bulletins and a clearer construct plan.
“With the addition of Ulysses, Cipher famous its improvement pipeline now totals 3.4GW throughout eight websites; monetary phrases weren’t disclosed within the announcement. Primarily based on our general bullish view on bitcoin and the corporate’s execution on website improvement and deal signing, we keep our Purchase score and $28 worth goal.”
Cipher Mining Inc. (NASDAQ:CIFR) is a know-how firm that develops and operates industrial scale information facilities for bitcoin mining and HPC internet hosting.
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