Google is doubling down on its AI–crypto crossover strategy, sealing a $3 billion partnership with Bitcoin mining firm Cipher Mining (NASDAQ: CIFR). The tech giant secured a 5.4% equity stake in Cipher by backstopping $1.4 billion of lease obligations tied to a decade-long deal with Fluidstack, an AI data center operator.

The Google Cipher Mining deal echoes Google’s late-August play, when it became the largest shareholder in TeraWulf, another Bitcoin miner, under a similar Fluidstack-backed arrangement. With this latest deal, Google is cementing its role as a pivotal bridge between high-performance AI workloads and energy-hungry Bitcoin mining infrastructure.

Cipher Mining Signs 168 MW, 10-Year AI Hosting Agreement with Fluidstack

In this transaction, Cipher will deliver 168 MW of Critical IT Load to Fluidstack at its Barber Lake site, securing ~$3B in contracted revenue over the initial 10-year term. The agreement also includes two…

— Cipher Mining (@CipherInc) September 25, 2025

Breaking Down the Deal

$3B Data Center Pact: Cipher Mining will deliver 168 megawatts of computing capacity to Fluidstack, backed by 244 MW of gross power at its Barber Lake site in Texas. The facility can scale up to 500 MW on 587 acres of land.

Google’s Equity Grab: In exchange for guaranteeing Fluidstack’s $1.4B obligations, Google receives warrants for roughly 24 million Cipher shares, translating into a 5.4% ownership stake.

Strategic Expansion: This adds to Cipher Mining’s growing presence in the HPC (High-Performance Computing) sector—positioning it as more than just a Bitcoin miner.

Cipher CEO Tyler Page called the deal a milestone that “strengthens our momentum in HPC,” suggesting it’s just the first of multiple AI-focused expansions in the pipeline.

Read full Press Release here:

Cipher Mining Signs 168 MW, 10-Year AI Hosting Agreement with Fluidstack

Why This Matters: The AI–Bitcoin Mining Crossover

The convergence of AI compute demand and Bitcoin mining infrastructure is no longer a fringe concept. Mining firms like Cipher Mining are increasingly leveraging their cheap energy access, cooling systems, and large-scale GPU deployments to diversify revenue streams.

CleanSpark’s $100M AI Push: Earlier this week, CleanSpark raised fresh capital to expand into AI infrastructure—sending its stock 5% higher in after-hours trading.

Hive Digital’s GPU Pivot: Hive reported record-breaking earnings in Q1 by scaling GPU and AI services, showing clear investor appetite for miners embracing this shift.

Market Recovery: According to Miner Mag, Bitcoin mining stocks are outperforming BTC itself—largely due to investor enthusiasm around the AI narrative.

Key Takeaway

Google’s Cipher Mining deal isn’t just a financial arrangement—it’s a signal of intent. By integrating mining capacity into AI workflows, the tech behemoth is positioning itself at the crossroads of blockchain infrastructure and next-gen compute power.

If this trend continues, miners may evolve from being Bitcoin block producers to becoming foundations of AI supercomputing—with Google pulling the strings behind the curtain.

 

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards.