NEW YORK - Cipher Digital Inc. (NASDAQ:CIFR) announced today the appointment of Bill Blevins as Head of Grid Strategies, according to a press release statement.
Blevins joins the data center developer from the Electric Reliability Council of Texas (ERCOT), where he served as Director of Grid Coordination. In his new role, he will lead the company’s grid strategy and support efforts to source and secure power for its development pipeline in Texas and other locations. He will report to Will Iwaschuk, Cipher’s Co-President and Chief Legal Officer.The appointment comes as Cipher’s stock has surged 562% over the past year, trading at $26.03 with a market cap of $10.7 billion. According to InvestingPro analysis, the stock currently appears overvalued relative to its Fair Value, though the company continues to show strong revenue growth of 38%.
Blevins brings more than 30 years of power systems experience spanning grid operations, reliability, and nuclear power. At ERCOT, he previously held positions including Manager of Operations Support and Manager of Operations Planning. He was responsible for grid operations during ERCOT’s transition to its Nodal Market in 2011.
Prior to his tenure at ERCOT, Blevins worked at the North American Electric Reliability Corporation (NERC) and Duke Energy. In 2024, a solar project with 270 megawatts of solar power and 180 megawatts of battery storage was named the Blevins Solar Project in his honor.
"Bill is one of the most respected grid operators in the entire country, and his deep understanding of ERCOT and large-scale power systems will be invaluable as we continue to develop and energize data centers at scale," Iwaschuk stated.
Cipher Digital develops and operates industrial-scale data centers designed for high-performance computing workloads.
In other recent news, Cipher Digital Inc. has completed a significant financial transaction through its subsidiary, Stingray Compute LLC. The company successfully raised $810 million via a private offering of 6.000% senior secured notes due in 2031, priced at 99.750% of their principal amount. This offering, aimed at qualified institutional buyers and non-U.S. persons, is intended to finance the remaining construction costs of the Stingray Facility, a data center in West Texas leased to Amazon.com Inc. Cipher Digital plans to use the proceeds not only for construction but also to reimburse prior equity contributions and fund debt service reserves. Additionally, the company held its 2026 annual meeting, where shareholders elected three directors and approved all proposals. This meeting saw representation of approximately 66.24% of the outstanding common shares. These developments reflect Cipher Digital’s ongoing strategic efforts to enhance its operational capabilities and financial structure.
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