Bitcoin mining firm Cipher Mining’s stock surged over 32% following the announcement of a significant 15-year partnership with technology giant Amazon Web Services. This collaboration signals a growing trend of major tech companies actively engaging with the blockchain and crypto mining industry, highlighting the increasing integration of cryptocurrency with mainstream enterprise technology.
Bitcoin miners are increasingly diversifying beyond mere cryptocurrency production, venturing into AI and high-performance computing (HPC) sectors following the Bitcoin halving in April 2024. This shift aims to offset diminishing mining rewards, which now stand at 3.125 BTC per block, by offering additional services such as data hosting and AI project support.
In a notable development, Google acquired a 5.4% stake in Cipher Mining earlier this year, as part of a broader $3 billion, multi-year data center collaboration with AI infrastructure company Fluidstack. This partnership underscores the deepening ties between major technology firms and crypto miners, emphasizing the importance of blockchain technology within enterprise ecosystems.
In addition to the Amazon deal, Cipher announced a majority stake in a joint venture to develop a 1-gigawatt AI hosting facility named Colchis in West Texas. Under this venture, Cipher will finance most of the project and hold a 95% ownership stake, positioning the company at the forefront of AI infrastructure expansion in the region.
Deals between crypto miners and tech giants are on the rise. For instance, Bitcoin miner IREN signed a multi-year GPU cloud services contract with Microsoft valued at nearly $10 billion. Similarly, TeraWulf announced a $3.7 billion hosting agreement with Fluidstack, supported by Google’s parent company Alphabet, signifying a growing appetite for infrastructure partnerships in the crypto space.
This industry trend reflects a broader acceptance and integration of blockchain and crypto-related services within the mainstream tech sector, indicating that traditional technology companies see strategic value in establishing long-term relationships with miners and blockchain firms.
This article was originally published as Cipher Mining Explodes with $5.5B Amazon Deal in AI Expansion on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.


Lawmakers in the US House of Representatives and Senate met with cryptocurrency industry leaders in three separate roundtable events this week. Members of the US Congress met with key figures in the cryptocurrency industry to discuss issues and potential laws related to the establishment of a strategic Bitcoin reserve and a market structure.On Tuesday, a group of lawmakers that included Alaska Representative Nick Begich and Ohio Senator Bernie Moreno met with Strategy co-founder Michael Saylor and others in a roundtable event regarding the BITCOIN Act, a bill to establish a strategic Bitcoin (BTC) reserve. The discussion was hosted by the advocacy organization Digital Chamber and its affiliates, the Digital Power Network and Bitcoin Treasury Council.“Legislators and the executives at yesterday’s roundtable agree, there is a need [for] a Strategic Bitcoin Reserve law to ensure its longevity for America’s financial future,” Hailey Miller, director of government affairs and public policy at Digital Power Network, told Cointelegraph. “Most attendees are looking for next steps, which may mean including the SBR within the broader policy frameworks already advancing.“Read more
