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Alphabet's Google has inked a substantial $3 billion data center cooperation pact with cryptocurrency mining firm Cipher Mining. Under this agreement, Google will furnish a $1.4 billion guarantee for a decade-long contract signed between AI computing upstart Fluidstack and Cipher Mining. In return, Google secures the option to acquire a 5.4% equity stake in Cipher Mining. The contract is projected to yield roughly $3 billion in lease revenue for Cipher Mining. Moreover, it encompasses two five-year extension clauses that, if fully activated, could infuse an extra $4 billion into Cipher Mining's coffers. This move represents the second such collaboration between Google and Fluidstack in the past two months, underscoring the burgeoning demand for computing resources propelled by AI services.
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