$CIFR

Cipher Mining Announces Acquisition of 200 MW Site in Ohio

Site acquisition includes 195 acres of land in Ohio and all necessary interconnection approvals to participate in the PJM market

Site is well-suited for HPC applications and expected to energize in 2027

NEW YORK, Dec. 23, 2025 (GLOBE NEWSWIRE) -- Cipher Mining Inc. (NASDAQ: CIFR) (“Cipher” or the “Company”) today announced the acquisition of a 200-megawatt (“MW”) site in Ohio, called “Ulysses.”

The transaction includes 195 acres of land and secured capacity from AEP Ohio. All utility agreements required to support the development of the site are in place, and the site is on track to energize in the fourth quarter of 2027. When energized, the site will give Cipher direct access to PJM, the nation’s largest wholesale electricity market. The site is well-suited for HPC given its acreage, energization timeline, availability of diverse fiber paths, and proximity to a major metropolitan area.

“Hyperscalers are driving unprecedented demand for large-scale sites,” said Tyler Page, CEO of Cipher. “Leveraging our proven sourcing capabilities, Cipher is continuing to seize the opportunity to shape the future of high-performance computing infrastructure. This new site, in a new power market, gives us additional capacity to continue expanding our HPC hosting business while broadening our geographical footprint.”

The Ulysses site marks Cipher’s first acquisition outside of Texas, demonstrating the Company’s ability to source high-quality opportunities nationwide and its ongoing commitment to expanding and diversifying its development pipeline.

With the addition of this site, Cipher’s development pipeline now totals 3.4 GW across 8 sites.