Cipher Digital (CIFR) shares surged 7.37% to close at $17.84 on August 10, having briefly climbed more than 10% intraday. The Bitcoin miner and data center operator publicly endorsed Governor Greg Abbott’s directive requiring an audit of all grid-connected data center projects. The August 3 order mandates the Public Utility Commission of Texas and the Electric Reliability Council of Texas to verify each project before granting network access. Cipher committed to three points: accepting interconnection costs, complying with load curtailment protocols under Senate Bill 6, and using non-potable water for cooling. Investors interpreted this compliance posture as removing a major execution risk for the company.
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