NEW YORK — Shares of Cipher Digital Inc. jumped 11.25% to $16.79 in Tuesday trading, adding $1.70, as the New York-based company's rapid transformation from a bitcoin mining operator into an AI data center developer continued to draw investor interest ahead of the planned commercial activation of one of its flagship hyperscale facilities this month.

Formerly known as Cipher Mining, the company formally rebranded to Cipher Digital in February, a name change the company said reflected its strategic pivot toward developing high-performance computing, or HPC, data centers for hyperscale cloud computing tenants rather than continuing to focus primarily on bitcoin mining. That shift has accelerated sharply over the course of 2026, with the company winding down bitcoin mining operations at its Black Pearl site in Texas in order to redirect power capacity and land toward AI infrastructure customers.

Central to that transformation is Cipher's Barber Lake campus in Colorado City, Texas, developed under a 10-year hosting agreement with Fluidstack, an AI cloud platform backed by Google. Under the agreement, Cipher will deliver 168 megawatts of critical IT load, supported by up to 244 megawatts of gross capacity, across the site's 587 acres, with potential for further expansion to 500 megawatts of total capacity. Google has agreed to backstop $1.4 billion of Fluidstack's contractual obligations under the deal and, in exchange, received an equity stake of approximately 5.4% in Cipher.........

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