ERCOT, the Texas grid operator, has granted Cipher Digital conditional grid capacity classification for 3.2 gigawatts (GW) of Texas projects through its "Batch Zero" process, driving Cipher Digital (NASDAQ: CIFR) shares up 9% to $16.42 in early Wednesday trading. Peer Core Scientific (NASDAQ: CORZ) shares rose 4% to $16.76, and IREN (NASDAQ: IREN) also saw a slight increase. This classification signifies progress for Cipher Digital in grid access, which the market views as a primary limiting factor for such projects. The article notes that AI workloads can generate $1.5 million in revenue per megawatt annually, significantly higher than Bitcoin mining's $500,000, explaining Cipher Digital's pivot from crypto mining to the more profitable AI hosting business.