Google will have the right to acquire a stake in the encryption mining company Cipher Mining.

As part of a multi-year data center agreement reached with the artificial intelligence computing startup Fluidstack, Alphabet's Google will have the right to purchase 5.4% of the shares of the encrypted mining company Cipher Mining Inc. Cipher, the data center operator, said Google has agreed to guarantee $1.4 billion in debt for Fluidstack under the contract with Cipher. Fluidstack has reached an initial 10-year agreement with Cipher to lease its computing power, expected to generate approximately $3 billion in revenue. This is the second such deal reached by Google and Fluidstack in the past two months, highlighting the strong demand for computing resources to provide artificial intelligence services.