Bitcoin miner Cipher secures decade-long $3B Google-backed AI hosting agreement with Fluidstack

Cipher Mining has entered a 10-year AI hosting partnership with Fluidstack valued at approximately $3 billion, featuring a $1.4 billion guarantee from Google. The deal grants Google a 5.4% equity stake via warrants for 24 million shares. Simultaneously, Cipher proposed an $800 million private offering of zero-coupon convertible notes to fund expansion.