Bitaigen Research 
Bitcoin mining hardware supplier Bitmain recently paid $39.75 million to obtain a 49% equity interest in three operating mining facilities in Texas owned by Cipher Mining. The three joint‑venture entities involved are Alborz LLC, Bear LLC and Chief Mountain LLC, collectively referred to as the “ABC Project.” After the transaction, Bitmain holds 49% of the shares, while its renewable‑energy partner WindHQ retains the remaining 51% ownership.
All three facilities are already online, with a combined installed capacity of 120 MW, delivering roughly 4.4 EH/s of hash power. As part of the deal, Bitmain also acquired 6,840 Avalon A15Pro miners from Cipher; these machines were originally deployed at Cipher’s Black Pearl data center, which is currently being repurposed into a dedicated AI‑HPC (Artificial Intelligence‑High Performance Computing) data center.
“By strengthening our footprint in Texas’s low‑cost, high‑quality power assets, we can deeply integrate our proprietary technology with critical infrastructure, further boosting long‑term efficiency and scale,” said Zhang Nange, Chairman and CEO of Bitmain.
In this analysis we examine Bitmain’s latest expansion in Texas, explore the broader implications for hash‑rate allocation and renewable‑energy partnerships, and assess the potential impact on the competitive landscape of the industry. Continue reading for the full details.
Canaan Fund Completes $40 Million Share Issuance Deal
Bitmain’s share price fell 5.7% after the announcement. At the same time, the company disclosed strong results for Q4 of fiscal year 2025: revenue rose 121.1% year‑over‑year to $196.3 million, driven primarily by higher hardware shipments and increased mining output.
Revenue from the Bitcoin mining segment also surged 98.5%, reaching $30.4 million, and the firm’s Bitcoin holdings grew to 1,750 BTC. In terms of hash power, Bitmain delivered a record 14.6 EH/s and raised its installed capacity to 9.91 EH/s, a boost largely attributed to a large institutional order from the United States.
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Industry Shift: From Mining to Artificial Intelligence
As profit margins in pure mining narrow, an increasing number of Bitcoin mining companies are diversifying into AI and cloud‑computing services. Last week, MARA Holdings acquired a 64% stake in French infrastructure firm Exaion, marking a deeper foray into AI‑service offerings.
A similar transformation wave is evident across the sector: Hive, Hut 8, TeraWulf and Iren are converting existing mining rigs and power capacity into data‑center operations, while companies such as CoreWeave have already pivoted entirely toward AI infrastructure construction. Bitmain notes that its Texas acquisition aligns with a long‑term strategy to ensure grid stability amid growing demand for data‑center capacity.
These points summarize Bitmain’s roughly $40 million purchase of a 49% stake in three Texas mining farms. For additional updates, stay tuned to Bitaigen (Bitgen) reports.
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⚠️ Risk Disclaimer: Crypto prices are highly volatile. This is not investment advice.
