Cipher Mining acquires Ohio 200-MW mining site 'Ulysses'

JH Kim

Summary

Cipher Mining said it has acquired the 200-megawatt mining site 'Ulysses'.
The company said the acquisition enables access to the power market via PJM Interconnection.
Cipher Mining said it is strengthening its data center and digital infrastructure strategy through the issuance of convertible bonds.

Nasdaq-listed Bitcoin (BTC) miner Cipher Mining has acquired a large-scale mining site located in Ohio, USA.

According to foreign reports on the 23rd (local time), Cipher Mining (Cipher Mining, CIFR) acquired the 200-megawatt (MW) mining site 'Ulysses' located in Ohio.

The Ulysses site includes approximately 195 acres of land along with power supply capacity secured through local utility AEP Ohio (AEP Ohio). The site is described as having conditions suitable for the future construction of large-scale mining facilities and data centers.

With this acquisition, Cipher Mining has secured a foothold that allows direct access to PJM Interconnection (PJM Interconnection LLC), the United States' largest wholesale power market. PJM is a key power market that oversees electricity trading in the eastern and midwestern regions of the United States.

Cipher Mining previously issued convertible bonds worth approximately $1.1 billion to strengthen its data center construction and high-performance computing (HPC) strategy. The company is pursuing a digital infrastructure strategy based on power infrastructure alongside its mining business.