The stock of Cipher Digital climbed more than 15% on September 16 after the company obtained power designations for two Texas facilities. The firm is partnering with Google-backed Fluidstack and Anthropic to invest $10 million in the repair and expansion of Colorado City’s water system as AI infrastructure investment grows across West Texas.

Cipher maintains an independent on-site water supply for its Barber Lake data center to avoid drawing from the municipal grid. The company recently announced 1.1 GW of conditional base load and 2.1 GW of conditional studied load across several sites including the 1 GW Colchis project and the Stingray facility.