Cipher Digital Extends Barber Lake Lease Term to 20 Years Increasing Revenue to $9 Billion

NEW YORK, Sept. 25, 2026 /CourierPR/ -- Cipher Digital Inc., a leading developer, owner, and operator of industrial-scale data centers, has extended the lease term of its Barber Lake data center in Colorado City, Texas, from 10 years to 20 years. This move is expected to significantly boost the facility’s total contracted revenue, increasing it from $3.8 billion to over $9 billion.

The extension comes as Cipher Digital has entered into a binding commitment with a leading AI lab to lease the facility for an additional 10-year term following the conclusion of the Barber Lake lease. According to the terms of the agreement, the AI lab will lease the facility for approximately $5.2 billion in incremental contracted revenue, which is expected to commence in the fourth quarter of 2026 and continue through the first quarter of 2027. This commitment is governed by a separate lease that contains economic terms substantially consistent with the Barber Lake Lease.

In connection with the amendment and the change orders, the Company, Fluidstack, and the leading AI lab established a cost reimbursement framework. Under this framework, Cipher Digital will bear the first $359.3 million of costs in excess of the initial budgeted amount under the Barber Lake Lease. The tenant will then reimburse Cipher Digital over the aggregate twenty-year term for 50% of any such costs above that amount, payable as additional rent and calculated in a manner to provide Cipher Digital with a contracted rate of return on such reimbursed amounts.

Cipher Digital continues to focus on delivering high-quality data centers purpose-built for high-performance computing (HPC) workloads. The company remains on track with the revised delivery schedule, with individual data halls expected to be delivered from the fourth quarter of 2026 through the first quarter of 2027. Rent will commence for each data hall as it is delivered, with the first rent commencement expected in the fourth quarter of 2026.

The amendment to the Barber Lake Lease also establishes a phased delivery schedule for the site. The first data hall is expected to be delivered in the fourth quarter of 2026, followed by additional halls through the first quarter of 2027. Cipher Digital remains committed to meeting these delivery milestones.

This press release was filed with the Securities and Exchange Commission (SEC) on February 24, 2026, as part of Cipher Digital Inc.’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025. Cipher’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2026, was filed with the SEC on August 4, 2026.