Cipher Digital Inc.

Cipher Digital Inc. develops and operates industrial-scale data centers for next-generation computing. The company has evolved from a pure-play bitcoin miner into a vertically integrated data center development and operations platform focused on energy-intensive compute infrastructure. This integration covers land and power origination and interconnection, site development, data center design and construction, oversight, and ongoing facility operations. Cipher Digital combines expertise in construction, engineering, operations, power, real estate, and technology to deliver purpose-built data centers. Its in-house teams source and control industrial-scale sites with access to substantial electric power capacity, advance grid interconnection and substation development, and manage data center campus design and construction. The company also operates and maintains energy-intensive data center facilities, utilizing operational expertise from employees' experience managing Tier III HPC data centers and large, flexible electrical loads. While bitcoin mining was a significant part of its past business model, Cipher Digital's strategy increasingly focuses on developing industrial-scale data centers for lease to hyperscalers and other HPC customers under long-term contracts, while retaining the option to use bitcoin mining as an interim or complementary power use.