We break down Cipher Mining’s 15-year, 300 MW lease with AWS, why miners are being repriced as data center operators, and how Texas power and a deep site pipeline drive the shift from hash rate to hyperscale demand. We also touch on earnings, revenue ramps, and where AWS could land in the portfolio. • AWS lease: 300 MW gross, $5.5bn value, August 2026 start • Shift from Bitcoin mining to HPC colocation economics • Market reaction and miner decoupling from Bitcoin price • Black Pearl and Barber Lake site flexibility • Pipeline depth: Stingray 100 MW and Colchis 1 GW • Buildout realities, PUE targets and delivery standards • Texas power costs and margin control • Revenue phasing and refurbishment timelines • Q3 highlights: 23.6 EH/s, 689 BTC, $72m revenue • Balance sheet strength with $1.2bn converts • Upcoming CEO earnings interviews and comparisons Take a second, smash the like button, guys. If you're not already subscribed, McNallie Money, feel free to join. Let us know in the comments section below what you thought about earnings and this massive deal for Cipher. Anthonys Info: Website: https://www.powermininganalysis.com X: https://twitter.com/cazenove_uk Patreon: https://www.patreon.com/Cazenove_UK Bryce's Info: X: https://twitter.com/McnallieM Patreon: https://www.patreon.com/McNallieMoney Merch: https://shop.mcnalliemoney.com/ Website: https://www.mcnalliemoney.com Business Inquiries: Email -
[email protected]
