Cipher Digital extends Barber Lake data center lease to 20 years, lifts contracted revenue to over $9 billion
CIFR•Cipher Digital extended its Barber Lake data center lease in Texas from 10 to 20 years, raising contracted revenue at the site to over $9 billion from $3.8 billion. A separate 10-year commitment from an AI lab is expected to add about $5.2 billion.
1. Lease and revenue
Phased data hall deliveries are expected from Q4 2026 through Q1 2027, with first rent expected to start in Q4 2026. Under the cost framework, Cipher covers the first $359.3 million of excess costs; tenants reimburse 50% of costs above that amount through rent over 20 years.
