Cipher Mining has announced a US$50 million investment from Japanese conglomerate SoftBank, acquiring about 10.4 million shares in the company.

This private investment in public equity will support Cipher’s expansion into high-performance computing and AI data center hosting, marking a shift beyond its focus on bitcoin mining.

Cipher is currently the tenth-largest public bitcoin miner, with a market valuation of US$1.6 billion.

It aims to reduce its exposure to cryptocurrency market volatility while addressing the growing demand for AI solutions.

Cipher is also developing a 300 MW Barber Lake site in Texas and has signed a one-month exclusivity agreement with SoftBank for this site.

Observers from JPMorgan noted the investment as part of a broader trend among mining companies seeking opportunities in AI-driven infrastructure.