Google Dives Deeper Into Bitcoin Mining by Backstopping AI Hosting Deal

September 25, 2025

in Web3

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Briefly

Google is backstopping a deal between AI compute firm Fluidstack and Bitcoin miner Cipher.
The deal will give Google the best to purchase a 5.4% stake in Cipher.
This is not the primary time Google has invested within the Bitcoin mining area.

Google is diving deeper into the Bitcoin mining world after backing a deal that provides the tech big a greater than 5% stake in Nasdaq-listed miner Cipher.

Cipher introduced Thursday that it signed a 10-year high-performance computing colocation settlement with AI cloud platform Fluidstack, a premier AI cloud platform. The deal will see Cipher ship 168 MW of vital IT load, supported by a most of 244 MW of gross capability, at its Barber Lake web site in Colorado Metropolis, Texas.

Google mentioned it’s going to backstop $1.4 billion of Fluidstack’s lease obligations to assist project-related debt financing and can obtain warrants to amass roughly 24 million shares of Cipher widespread inventory—or 5.4% professional forma fairness possession stake.

“We’re thrilled to be working with Fluidstack to develop HPC knowledge facilities, and we sit up for welcoming Google as an investor in Cipher,” Tyler Web page, the Bitcoin miner’s CEO, mentioned.

“This transformative transaction reinforces our HPC momentum as we proceed to draw consideration for our giant and rising pipeline of web sites. We imagine this transaction represents the primary of a number of within the HPC area as we proceed to scale our capabilities and strengthen our place on this quickly rising sector.”

Cipher’s inventory (CIFR) was buying and selling 9% decrease on Thursday at $12.81 per share, per YahooFinance knowledge.

Google didn’t instantly reply to Decrypt‘s request for remark.

The Bitcoin mining area, which makes use of large quantities of power, is more and more intertwined with HPC knowledge facilities.

Each crypto mining and the AI business use large quantities of power, and when Bitcoin’s worth falls and minting new digital cash is not producing sufficient income, some miners have pivoted their infrastructure to handle AI demand.

Final month, the tech big Bitcoin miner TeraWulf introduced that Google was offering an incremental $1.4 billion backstop to assist project-related debt financing, upping its whole stake to $3.2 billion.

In change, Google would obtain warrants to purchase 32.5 million shares of the sustainable Bitcoin miner, the announcement mentioned on the time.