Several Bitcoin mining companies disclose AI data center cost risks: Cipher bears $359 million in overruns, Riot introduces guaranteed maximum price contracts

Odaily report: As Bitcoin mining companies accelerate their pivot toward AI data center operations, construction cost overruns and risk allocation have become focal points for the market. In the latest earnings season, Cipher disclosed that under revised leasing arrangements, the company will bear the first $359.3 million in cost overruns beyond the original budget for the Barber Lake project; Riot expects that approximately 70% of its Rockdale project budget will be covered under guaranteed maximum price (GMP) contracts to control cost risk; Core Scientific stated that tariffs have driven up costs for certain equipment and materials. Additionally, Riot noted that lenders are scrutinizing tenant creditworthiness, power infrastructure energization status, and project delivery records more rigorously. (TheEnergyMag)