Google’s investment is 1.4 billion dollars.
In August, the company made a similar movement with Terawulf.
Google has agreed to acquire Warrantsfinancial instruments that grant the right to buy shares at a fixed price in the future, to obtain approximately 24 million shares of Cipher Mining, a company dedicated to Bitcoin mining.
This movement, valued at 1.4 billion dollars, is part of an artificial intelligence lodging agreement (AI) at 10 years with fluidstacka startup specialized in AI computing, as explained by a release.
Through this contract, Google will financially support fluidstack lease obligations, allowing Cipher Mining to obtain funds for its expansion.
The agreement with Fluidstack guarantees Cipher Mining income for 3,000 million dollars during the decade of the contract, with the possibility of two extensions of five years each, which could generate up to 4,000 million dollars.
This operation It will allow Cipher Mining to strengthen its infrastructure and climb its operations in Bitcoin mininga growing sector that combines technology and intensive energy consumption.
This is not Google’s first step in this type of investments. In August, the company carried out a similar operation with Terawulf, another public mining company in Bitcoin. As Cryptonoths reported, Google contributed $ 1.8 billion to support fluidstack lease obligations in an agreement to 10 years with Terawulf. In return, Google received 41 million titles, equivalent to 8% shareholding in the company.