Cipher Mining made a $5.5 billion agreement 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 short of projections.

Additionally, the company announced a $5.5 billion leasing agreement with Amazon Web Services to provide 300 megawatts of capacity for artificial intelligence loads. The project will include both air and liquid-cooled racks and will be carried out in two phases, with deliveries set to begin in July 2026; rental payments will commence the following month.

Cipher Mining also announced plans to form a partnership to develop a 1 gigawatt facility named “Colchis” in West Texas. The company expects to provide a significant portion of the financing and own approximately 95% equity 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 a pair of connection facilities targeted to be energized in 2028, located on 620 acres next to an existing substation.

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

The company reported third quarter 2025 revenue of $72 million and adjusted earnings per diluted 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 secured a critical agreement with Fluidstack and Google, solidifying our reliability in the HPC space. Now, we are taking another significant step by signing our first direct leasing agreement with a Tier 1 hyper-scale provider."