Bitcoin Miner Cipher Sale Considered Amidst Surging Data Center Demand

Key Points:

• Cipher Mining Inc. considers sales amidst surging data centre demand.
• Shares rise 18%, valuing Cipher at $2.2B amid sale talks.

Cipher Mining amid high demand for data centres, explores sale options. Shares surged 18%, valuing the firm at $2.2B. Bitcoin Miner Cipher Sale rumours grow amid data centre space demand surge.

According to Bloomberg, Cipher Mining Inc. is considering a potential sale following interest from prospective buyers amid surging demand for data centres, particularly for Bitcoin mining operations.

Bitcoin Miner Cipher Sale Amid High Demand

Cipher, a US-based company, has been working with advisors to gauge interest from potential buyers and mentioned sources close to the matter. Its shares rose 18% on Wednesday and added 2.8% in New York trading for a $2.2 Billion market value.

The talks are exploratory, and Cipher hasn’t yet decided whether to sell, said the people, so as not to be named because the information is private. A representative for Cipher declined to comment.

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AI-driven Data Center Shortage Spurs Interest in Crypto Firms

Demand for data centre space, driven by a boom in Artificial Intelligence, has created a shortage, forcing AI companies to target crypto-mining firms. These firms have set up the infrastructure to be bested and added to computing capabilities via acquisitions.

Recently, cloud computing provider CoreWeave Inc. offered to buy Bitcoin miner Core Scientific Inc. at a ~$1 Billion valuation. Another, Northern Data AG, is shifting out of crypto mining into HPC and is said to target listing in the US with a potential valuation of up to $16 Billion.