Norton Rose Fulbright represents Cipher Mining in its acquisition of West Texas 300 MW data center site

Global law firm Norton Rose Fulbright represented Cipher Mining Inc. (Cipher) in its acquisition of a data center site located in Barber Lake, Texas.

Located in West Texas, the 250 acre site includes a newly constructed high-to-mid voltage substation, 300 MW of front-of-the-meter capacity and all regulatory approvals necessary for the data center, once constructed, to participate in the ERCOT market.

Cipher, an industrial-scale Bitcoin mining company, funded the majority of the acquisition using proceeds from bitcoin inventory sales. The purchase price included a cash payment of US$67.5 million and a variable fee of US$3/MWh for the first five years after energization of the site.

Norton Rose Fulbright’s deal team was led by Christy Rivera (New York) and Erin Mitchell (Houston) with support from Kat Gamache, Kevin Gieseke, Daniel Rahim (Houston), Luke Edney (Austin), Katherine Agapitos (Los Angeles), Andrew Rosenblatt, Richard Wright (New York) and Maeve Tibbetts (Washington, DC).