Cipher Digital Surges on Conditional ERCOT Status for Texas Capacity
Shares of Cipher Mining (NASDAQ:CIFR) surged nearly 9% after the Electric Reliability Council of Texas (ERCOT) granted a conditional base load classification covering 3.2 gigawatts across its projects in Texas through its Batch Zero process. The move, which came without an official company announcement, also lifted peer companies like Core Scientific (NASDAQ:CORZ), up nearly 4%, and IREN (NASDAQ:IREN), rising about 2%. The broader market showed minimal movement with the SPDR S&P 500 ETF Trust gaining just over 0.3%. ERCOT's Batch Zero process is designed to manage a backlog of large interconnection requests, particularly from data centers and other high-load users. Cipher’s conditional classification indicates progress in securing grid access but remains subject to further verification and audits.
Topics: ai_colocation data_centers ercot grid_capacity