SoftBank Pours $50 Million into Cipher Mining for HPC Data Centers

Cryptocurrency firm Cipher Mining has secured $50 млн from Japanese conglomerate SoftBank to expand operations in high-performance computing (HPC) data centers. The deal will help Cipher Mining diversify its business model and reduce reliance on traditional crypto mining. According to initial plans, about 60% of the new funding will be allocated to server hardware procurement, while the remainder will cover cooling and power distribution infrastructure.

Specialists note that despite cryptocurrency market volatility, major investors remain interested in mining-related ventures. By late 2024, the company’s data centers boasted a capacity of 350 PH/s, and management aims to increase that figure within 12 months.

Analysts believe the agreement could speed up the integration of artificial intelligence and HPC tasks into the mining sector. SoftBank has previously invested in blockchain-related entities, underscoring its confidence in the long-term value of distributed ledger technologies.