Cartis diligence evidence schedule
Cipher Barber Lake AI Data Center Campus
PRJ-0738 · Site · Colorado City, Texas, United States
Captured 2026-09-06T04:13:02.932Z · Record last updated 2026-08-27
SHA-256: 760a7256c5f925fd2555df9534ad5cce52be3645fabb94bbd4a0c3a7d906a8c2
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Scope and capacity
Cipher is completing Barber Lake for Fluidstack under a Google-backed lease. The tenant has begun beneficial use while remaining work proceeds toward the initial delivery milestone. Cipher Digital and Fluidstack and Google is publicly identified in the project record for Colorado City, Colorado City area, TX, US. The disclosed development record includes 168 MW contracted critical IT within 244 MW gross capacity; tenant beneficial use begun; rental start expected in 2026. Power and infrastructure include purpose-built HPC campus with high-density cooling and long-term tenant support. Cipher reports 168 MW of critical IT under the Fluidstack lease at Barber Lake. Cipher reported approximately $1.7 billion of high-yield bond financing supporting Barber Lake.
Headline: 168 MW Contracted
Numbers refer to their stated physical boundaries and are not added together. Source dates, claim dates and record updates have different meanings. Missing dates and locators are not inferred.
Claims and exhibit sources
Location Context · Barber Lake campus | Colorado City area | West Texas
actual · Cipher Barber Lake AI Data Center Campus (project)
Claim 58799 · Review: Approved · Claim date: Not published
- Cipher Digital Q2 2026 business update
Cipher Digital · Document date: 2026-08-10 · Primary
https://www.sec.gov/Archives/edgar/data/1819989/000181998926000038/cipherdigital_businessup.htm - Cipher Digital Q2 2026 business update
Cipher Digital · Document date: 2026-08-10 · Primary
https://www.sec.gov/Archives/edgar/data/1819989/000181998926000038/cipherdigital_businessup.htm
Lifecycle Status · Partially operational
actual · Cipher Barber Lake AI Data Center Campus (project)
Claim 58800 · Review: Approved · Claim date: Not published
- Cipher Digital Q2 2026 business update
Cipher Digital · Document date: 2026-08-10 · Primary
https://www.sec.gov/Archives/edgar/data/1819989/000181998926000038/cipherdigital_businessup.htm - Cipher Digital Q2 2026 business update
Cipher Digital · Document date: 2026-08-10 · Primary
https://www.sec.gov/Archives/edgar/data/1819989/000181998926000038/cipherdigital_businessup.htm
Reported Capacity · 168 MW
actual · Cipher Barber Lake AI Data Center Campus (project)
Claim 58801 · Review: Approved · Claim date: Not published
Headline treatment: Selected headline
- Cipher Digital Q2 2026 business update
Cipher Digital · Document date: 2026-08-10 · Primary
https://www.sec.gov/Archives/edgar/data/1819989/000181998926000038/cipherdigital_businessup.htm - Cipher Digital Q2 2026 business update
Cipher Digital · Document date: 2026-08-10 · Primary
https://www.sec.gov/Archives/edgar/data/1819989/000181998926000038/cipherdigital_businessup.htm
Capacity Basis · Cipher reports 168 MW of critical IT under the Fluidstack lease at Barber Lake.
actual · Cipher Barber Lake AI Data Center Campus (project)
Claim 58802 · Review: Approved · Claim date: Not published
- Cipher Digital Q2 2026 business update
Cipher Digital · Document date: 2026-08-10 · Primary
https://www.sec.gov/Archives/edgar/data/1819989/000181998926000038/cipherdigital_businessup.htm - Cipher Digital Q2 2026 business update
Cipher Digital · Document date: 2026-08-10 · Primary
https://www.sec.gov/Archives/edgar/data/1819989/000181998926000038/cipherdigital_businessup.htm
Development Scale · 168 MW contracted critical IT within 244 MW gross capacity
actual · Cipher Barber Lake AI Data Center Campus (project)
Claim 107672 · Review: Approved · Claim date: Not published
- Cipher Digital Q2 2026 business update
Cipher Digital · Document date: 2026-08-10 · Primary
https://www.sec.gov/Archives/edgar/data/1819989/000181998926000038/cipherdigital_businessup.htm - Cipher Q4 2025 business update
Cipher Digital · Document date: 2026-02-01 · Corroborating
https://www.sec.gov/Archives/edgar/data/1819989/000181998926000007/cipherdigital_businessup.htm
Development Milestone · Tenant beneficial use begun
actual · Cipher Barber Lake AI Data Center Campus (project)
Claim 107673 · Review: Approved · Claim date: Not published
- Cipher Digital Q2 2026 business update
Cipher Digital · Document date: 2026-08-10 · Primary
https://www.sec.gov/Archives/edgar/data/1819989/000181998926000038/cipherdigital_businessup.htm - Cipher Q4 2025 business update
Cipher Digital · Document date: 2026-02-01 · Corroborating
https://www.sec.gov/Archives/edgar/data/1819989/000181998926000007/cipherdigital_businessup.htm
Power Arrangement · Rental start expected in 2026.
actual · Cipher Barber Lake AI Data Center Campus (project)
Claim 107674 · Review: Approved · Claim date: Not published
- Cipher Digital Q2 2026 business update
Cipher Digital · Document date: 2026-08-10 · Primary
https://www.sec.gov/Archives/edgar/data/1819989/000181998926000038/cipherdigital_businessup.htm - Cipher Q4 2025 business update
Cipher Digital · Document date: 2026-02-01 · Corroborating
https://www.sec.gov/Archives/edgar/data/1819989/000181998926000007/cipherdigital_businessup.htm
Boundary Context · Barber Lake campus | Colorado City area | West Texas
actual · Cipher Barber Lake AI Data Center Campus (project)
Claim 107675 · Review: Approved · Claim date: Not published
- Cipher Digital Q2 2026 business update
Cipher Digital · Document date: 2026-08-10 · Primary
https://www.sec.gov/Archives/edgar/data/1819989/000181998926000038/cipherdigital_businessup.htm - Cipher Q4 2025 business update
Cipher Digital · Document date: 2026-02-01 · Corroborating
https://www.sec.gov/Archives/edgar/data/1819989/000181998926000007/cipherdigital_businessup.htm
Counterparties and capital
$1,730,000,000 · 2026-02-01
Barber Lake construction through substantial completion.
Cipher Digital (Sponsor)
Financing record 209; claim-specific source links appear in the exhibit sources where published.
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