Cipher Digital’s Colchis site secured 1 GW of conditional baseload status, while Stingray received 100 MW.
- Cipher Digital shares rose over 14% after a Texas grid update on 3.2 GW of projects.
- The company said that the final designation will come in December after a state-ordered audit.
- Cipher Digital, along with FluidStack and Anthropic, pledged $10 million to repair Colorado’s city water system.
Cipher Digital Inc.’s (CIFR) shares jumped in the morning on Wednesday after the company said the Electric Reliability Council of Texas (ERCOT) gave it a conditional nod to move ahead with its data-center projects in the state.
Under Batch Zero, ERCOT’s new procedure for large grid connections, two of Cipher’s projects were given conditional classifications. The company first revealed the 3.2 Gigawatt (GW) figure last week, but did not identify the sites. On Tuesday, it released the site-by-site breakdown on its X account.
CIFR stock was up over 15% in morning trade, snapping a two-day losing streak. On Stocktwits, retail sentiment around CIFR remained in the ‘bearish’ zone, accompanied by ‘low’ chatter levels over the past day
Cipher Secures 1.1 GW Base-Load Capacity, 2.1 GW Under Conditional Study
1.1 GW was given conditional base-load status, according to Cipher. This comprises 100 megawatts (MW) at the Stingray site and 1 GW at Colchis. Because ERCOT’s grid study regards that capacity as established, base-load status is important.
The remaining 2.1 GW was categorized as a load under conditional study. It includes 500 MW at Mikeska, 900 MW at Apollo, 200 MW at Stingray Phase II, and 500 MW at McLennan.
According to Cipher, the combined 807 MW of its Barber Lake, Black Pearl, and Odessa sites are already operational. Its 270 MW Reveille and Ulysses sites have been given the go-ahead to connect to the grid.
Following the audit, the company stated that it will release the final designations in December.
In August, Texas Governor Greg Abbott issued an order to audit data center projects involved in ERCOT’s interconnection process. As sentiment shifted amid the review, CIFR dropped roughly 44% from its July peak.
The classifications do not set power-on dates and are not authorized to connect to the grid.
Cipher Supports Texas Water Fix
The company, in partnership with Fluidstack and Anthropic (ANTHZZX), pledged $10 million earlier this week to restore and expand the water system in Colorado City, Texas. The money will go through the newly formed Colorado City Water Infrastructure Foundation. They will fund basic improvements that city leaders identified after this summer’s water shortages. Fluidstack and Anthropic are tenants in Cipher’s Barber Lake data center near the city.
“Being a good neighbor means showing up for the issues that matter most to the communities where we operate, even when those issues predate us,” CEO Tyler Page said.
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