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Update: Cipher Shares Rise After Gas Pipeline Development to Support Data Centers

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(Updates with recent share movement in the headline and the first paragraph.)

Cipher Digital (CIFR) shares rose more than 12% in Thursday trading after it said it started developing lateral pipelines at multiple sites to deliver natural gas that can support up to 2.5 gigawatts of electricity for data centers.

The company said it intends to support bring-your-own generation capacity, a model used by data centers to secure their own energy rather than relying on the electrical grid.

Cipher said it plans to use the bring-your-own-generation capacity to develop and lease data center capacity to premier tenants for high-performance computing workloads.

The company said that building the lateral pipelines is a crucial step to ensure new power is available at the sites before the end of the year.

Price: $17.04, Change: $+1.86, Percent Change: +12.22%

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