Cipher Mining made a $5.5 billion deal with Amazon.

Cipher Mining announced its third-quarter results on Monday, reporting that the results were close to market expectations. However, the revenue figures fell below estimates.

Additionally, the company announced a 15-year lease agreement worth $5.5 billion with Amazon Web Services to provide 300 megawatts of capacity for artificial intelligence workloads. The project will include both air and liquid-cooled racks and will be delivered in two phases, starting in July 2026; lease payments will begin the following month.

Cipher Mining also revealed plans to form a partnership for developing a 1-gigawatt facility called “Colchis” in West Texas. The company expects to finance a significant portion and hold approximately 95% ownership under standard lease and development terms for upcoming high-performance computing projects.

The Colchis project includes a definitive 1-gigawatt Direct Connection Agreement with American Electric Power. This agreement aims to construct a dual connection facility targeted to be connected to the grid by 2028, and the 620 acres of land is located next to an existing substation.

Cipher Mining shares gained approximately 17% in pre-market trading as of 07:20 ET.

The company reported third-quarter 2025 revenue of $72 million and a diluted adjusted earnings per share of $0.10. These figures fell short of consensus estimates of $76.5 million and $0.11, respectively.

Cipher Mining CEO Tyler Page stated, "The third quarter was a transformative period for Cipher. We executed a critical agreement with Fluidstack and Google, thereby solidifying our credibility in the HPC space. Now, we are taking another significant step by signing our first direct lease agreement with a Tier 1 hyperscaler."