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 to provide 300 megawatts of capacity for artificial intelligence workloads in collaboration with Amazon Web Services. The project will include both air and liquid-cooled racks and will take place in two phases, with deliveries starting in July 2026; lease payments will begin the following month.

Cipher Mining also outlined plans to form a partnership to develop a 1-gigawatt facility called "Colchis" in West Texas. The company expects to fund a significant portion of the financing and hold approximately 95% ownership under standard leasing and development terms for future high-performance computing projects.

The Colchis project includes a finalized 1-gigawatt Direct Connection Agreement with American Electric Power. This agreement aims to build dual connection facilities scheduled to be connected to the grid in 2028, situated on 620 acres of land adjacent to an existing substation.

Cipher Mining shares gained about 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, 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."