Cipher Mining signed a $5.5 billion deal with AWS.

Cipher Mining Signs a Major Deal with Amazon Web Services

Cipher Mining has signed a 15-year leasing agreement with Amazon Web Services (AWS), resulting in a collaboration valued at $5.5 billion. As part of this agreement, the company is expected to provide 300 megawatts of artificial intelligence computing capacity by the end of next year.

Cryptocurrency miners, particularly Cipher, have begun to shift towards artificial intelligence infrastructure due to increasing demands for power and computing. This transition not only increases competition in the sector but also spurs the search for energy efficiency and computing power.

Following this breaking news, CIFR shares rose by 19%. Along with this rise, IREN also saw a 21% increase, grabbing investors' attention due to its $9.7 billion agreement with Microsoft.