Cipher Mining Inc., now operating as Cipher Digital, develops and operates industrial-scale data centers designed for high-performance computing workloads. The company is transitioning from its bitcoin mining origins toward hyperscale and AI infrastructure. Its major data center developments include Barber Lake and Black Pearl, while its broader pipeline includes sites such as Colchis, Reveille, Ulysses, McLennan, Mikeska, and Stingray. Cipher has secured major HPC leasing arrangements with hyperscale customers, including Amazon Web Services and Fluidstack with Google support. Its projects are concentrated primarily in Texas, with additional development opportunities in Ohio and other U.S. markets. The company focuses on power, construction, engineering, real estate, and data center operations.