Cipher’s Barber Lake Campus Secures 20-Year Commitment
The 300MW campus now carries more than $9B in contracted revenue, with individual data-hall handovers scheduled from Q4 2026 through Q1 2027.
Cipher Digital has extended the contracted life of its Barber Lake campus from 10 to 20 years, pairing a longer commercial commitment with a revised construction handover plan. Individual data halls are now expected to be delivered between the fourth quarter of 2026 and the first quarter of 2027.
Fluidstack remains the initial tenant. An unnamed leading AI laboratory has made a binding commitment for the following 10-year term, adding approximately $5.2 billion to contracted revenue. The arrangement takes that revenue from $3.8 billion to more than $9 billion; these are customer commitments, not the cost of constructing the facility.
Project at a Glance
- Developer:
- Cipher Digital
- Campus capacity:
- 300MW
- Filed building area:
- 800,000 SF
- Location:
- 951 County Road 204
- Contracted term:
- 20 years
- Contracted revenue:
- More than $9 billion; not construction investment
- Design firm in state filing:
- MBA Energy & Industrial
- Revised delivery:
- Phased data halls: Q4 2026–Q1 2027
An 800,000-SF Construction Filing
The state accessibility filing describes an 800,000-SF data center at 951 County Road 204 and names MBA Energy & Industrial as design firm. Its $50 million estimate covers the registered scope and should not be presented as the total investment in the 300MW campus.
The filing lists an October 2025 start and December 2026 completion. Cipher’s September 25 announcement provides the more recent customer handover schedule, extending phased deliveries into early 2027. A registered completion date and delivery of operational data halls are different milestones.
What Phased Handover Means
Releasing halls in stages makes construction and commissioning interfaces particularly important. Electrical distribution, cooling, controls and network readiness must be coordinated for each handover while work continues elsewhere. This is a construction implication of the sequencing, not a disclosed subcontract award.
The design firm is identified, but the reviewed records do not establish the complete general-contractor, electrical, mechanical or commissioning team. Those appointments, together with modular and prefabricated package suppliers, remain useful gaps in the delivery map.
The Next Construction Milestones
Watch for the first completed data-hall delivery, subsequent customer acceptance and the pace of remaining handovers through Q1 2027. The longer agreement strengthens the commercial horizon; the construction story now turns on staged releases of usable capacity.