Cryptomine data center firm turned HPC facility provider Cipher Mining has signed another leasing deal with Fluidstack.

The company this week announced a 10-year high-performance computing (HPC) colocation agreement with Fluidstack. The deal will see Cipher deliver an additional 39MW of critical IT load, supported by a maximum of 56MW of additional gross capacity, at its Barber Lake site in Colorado City, Texas.

The extension represents approximately $830 million in contracted revenue over the initial 10-year term and includes two five-year extension options, potentially reaching $2 billion.

Fluidstack is now set to lease the entirety of the 300MW Barber Lake site, and could total $9 billion in revenue for Cipher.

As with the previous lease agreements, Google will backstop an additional $333 million of Fluidstack’s lease obligations to support project-related debt.

“We’re excited to expand our partnerships with Fluidstack and Google as we develop the remaining current capacity at our Barber Lake site,” said Tyler Page, Cipher’s CEO. “This third transaction further validates Cipher’s position as a leader in HPC development and underscores the strong momentum that will continue to drive growth across our pipeline of sites.”

Cipher said it has committed financing in place for the project, and will use proceeds from the project-related debt, along with $118 million of additional equity contributions from Cipher, to finance the expansion.

Cipher announced a ten-year high-performance computing (HPC) colocation agreement with Fluidstack in September

Under the agreement, Cipher was set to deliver 168MW of critical IT load, supported by a maximum of 244MW of gross capacity, at its in-development Barber Lake site in Colorado City, Texas. The $3 billion lease is due to start in October 2026 and includes two five-year extension options that could total up to $7bn in revenue.

As part of the original deal, Google was to backstop $1.4bn of Fluidstack’s lease obligations and take a 5.4 percent equity ownership stake in Cipher.

This week also saw Cipher announce a proposed offering of $333 million in additional senior secured notes. The proceeds on the 7.125 percent senior secured notes, due 2030, will finance a portion of the construction costs associated with additional facilities within the Barber Lake site.

Fluidstack and Google announced similar deals with TeraWulf for capacity at its site in New York and a planned development in Texas.

Generative AI company Anthropic recently announced a $50 billion partnership with Fluidstack to develop data centers in Texas and New York, but it is unclear if these are the Cipher/TeraWulf sites. Google has a 14 percent stake in Anthropic.

Morgan Stanley & Co. LLC acted as the sole financial advisor to the Company. Davis Polk & Wardwell LLP acted as legal counsel to the Company. Cooley LLP acted as legal counsel to Fluidstack.