Cipher Mining enter preliminary agreement with ENGIE North America

ENGIE North America (ENGIY) entered into a preliminary agreement with Cipher Mining (CIFR) to enter into a power supply agreement to power a Cipher data center in Texas. Once executed, the agreement would allow Cipher to purchase up to 300 megawatts of clean energy from one of ENGIE’s wind facilities. The new arrangement would leverage the wind project’s renewable energy generation to power the co-located data center, helping to alleviate an already congested transmission area. This helps offset basis risk and mitigate curtailment challenges especially in regions like West Texas, where wind and solar resources are abundant but often face constraints due to transmission bottlenecks and curtailment.