Cipher Digital Expands Barber Lake Lease to $9 Billion

New York, NY, USA September 25, 2026 Cipher Digital Inc. (NASDAQ: CIFR), a leading developer, owner, and operator of industrial-scale data centers, announced a series of agreements that extend the contracted lease duration of its Barber Lake data center in Colorado City, Texas from 10 years to 20 years. This extension increases total contracted revenue at the facility from 3.8 billion dollars to over 9 billion dollars.

Cipher executed an amendment to its existing lease with Fluidstack, which is paired with a binding commitment from a leading AI lab to lease the facility for an additional 10-year term after the conclusion of the Barber Lake Lease. This additional commitment is expected to generate approximately 5.2 billion dollars in incremental contracted revenue under economic terms substantially consistent with the original lease.

Transaction Details

• Lease extension from 10 to 20 years at the Barber Lake data center in Colorado City, Texas.
• Total contracted revenue increased to over 9 billion dollars, adding approximately 5.2 billion dollars from an additional 10-year commitment with a leading AI lab.
• Phased delivery schedule established for individual data halls, expected from the fourth quarter of 2026 through the first quarter of 2027.
• Cost reimbursement framework established, with Cipher bearing the first 359.3 million dollars of costs in excess of the initial budget, and the tenant reimbursing 50 percent of costs above that amount over the 20-year term.