08:04 AM EST, 11/20/2025 (MT Newswires) -- Cipher Mining ( CIFR ) said Thursday it signed a 10-year, $830 million high-performance computing colocation agreement with AI cloud platform Fluidstack to provide additional power at its Barber Lake site in Colorado City, Texas.

The agreement is for an additional 39 megawatts of critical IT load, supported by a maximum of 56 megawatts of additional gross capacity, the company said.

Cipher said the agreement includes two five-year extension options, which if exercised would bring the total contracted revenue to roughly $2 billion and $9.0 billion in total for the entire lease.

Further, Alphabet's (GOOG, GOOGL) Google ( GOOG ) will backstop an additional $333 million of Fluidstack's lease obligations to support project-related debt, Cipher said.

Cipher said it intends to use the proceeds from the project-related debt, together with about $118 million of additional equity contributions from the company, to finance the construction of incremental facilities for the expansion.