Compute · the Ledger · Site lease
AWS signs a ~$5.5B, 15-year lease for 300 MW at a Cipher site
Signed · announced 3 Nov 2025 · the week to 7 Nov 2025
- Size
- $5.5B
- Power
- 300 MW
- Term
- 15 years
The parties
- Amazon Web Servicescompany pageTenant
- Cipher Miningcompany pageLandlord
The source
Cipher Mining 8-K Ex. 99.1, 2025-11-03Regulatory filing
Delivered in two phases from July 2026 to Q4 2026, rent from August 2026. Cipher's first direct hyperscaler lease.
The same parties, other deals
- Anthropic commits more than $100B over ten years to AWS for up to 5 GW; Amazon invests $5B now and up to $20B more$100B · 20 Apr 2026
- OpenAI expands its AWS agreement by $100B over eight years, including ~2 GW of Trainium capacity$100B · 27 Feb 2026
- OpenAI signs a $38B, seven-year agreement for AWS capacity on Nvidia GB200 and GB300 GPUs$38B · 3 Nov 2025
- Fluidstack leases Cipher's 168 MW Barber Lake site for 10 years, ~$3B of contracted revenue$3B · 25 Sept 2025
- Google backstops $1.4B of Fluidstack's Barber Lake lease obligations and receives warrants for ~5.4% of Cipher$1.4B · 25 Sept 2025