Cipher to Cover First $359.3 Million in Barber Lake Cost Overruns

Cipher will cover the first $359.3 million in costs above budget at its Barber Lake project under a revised lease, defining how construction overruns will be split as Bitcoin miners expand into AI data centers. Riot expects guaranteed maximum price (GMP) contracts to cover about 70% of the budget for its Rockdale project. These contracts set a maximum price for covered work, limiting exposure to cost increases beyond that amount. Riot also said lenders are taking a closer look at tenant credit, whether power facilities are energized and project delivery records.

Source: TokenPost