Cipher Mining Expands into PJM Market, Bitcoin Mining Boom
Update: 2025-12-23
Description
Cipher Mining expands into Ohio with a 200 MW power site, marking their first move outside Texas and into the PJM wholesale electricity market. The site, secured with power agreements, is set to go live in Q4 2027 and caters to high-performance computing and data centers. This move aligns with the growing demand for massive data sites from hyperscalers like Amazon and Google. Despite hash prices hovering below $40 since mid-November, squeezing profits, mining stocks are surging in 2025. Companies are diversifying into power, data centers, and renewables to cut costs and stay ahead.
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