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Cipher Mining Inc., a leader in bitcoin mining and high-performance computing (HPC) data centers, announced Thursday that it has secured a $50 million investment from SoftBank Corp.. The funding, structured as a private investment in public equity (PIPE), marks a significant milestone in Cipher’s expansion strategy.

SoftBank Becomes a Key Investor in Cipher Mining

SoftBank’s investment makes it a major primary investor in Cipher Mining, positioning the Japanese tech giant as a strategic backer of the company’s industrial-scale data center initiatives.

"This $50 million investment comes at a pivotal moment in Cipher's growth trajectory," said Cipher Mining CEO Tyler Page. "SoftBank's focus on innovation in technology and [artificial intelligence] development aligns with our vision to establish ourselves as a leader in [high-performance computing] data center development."

Cipher’s Expansion Plans in Bitcoin Mining and Data Centers

Cipher Mining has been scaling up its operations rapidly. The company reported that as of December 2024, it had 75,000 deployed mining rigs, with its Odessa, Texas, data center nearing completion. The latest investment is expected to accelerate infrastructure development and enhance Cipher’s capabilities in both bitcoin mining and broader high-performance computing services.

Legal Counsel and Industry Impact

Latham & Watkins LLP represented Cipher Mining in the deal, with a team including Christopher Drewry, Sean Parish, Ann Buckingham, and others. Counsel information for SoftBank was not immediately available.

A Cipher Mining representative declined to comment, while SoftBank did not immediately respond to requests for comment.