Recent Updates — CIFR
Cipher Digital Inc. issued $850 million aggregate principal amount of 0.00% Convertible Senior Notes due November 2032, with an initial conversion price of approximately $15.31 per share and a cap price on related capped call transactions at $28.35. Concurrently, the company exchanged approximately $165.9 million in principal amount of its existing 1.75% Convertible Senior Notes due 2030 for roughly 40.7 million shares of common stock, leaving about $6.6 million of that series outstanding. The firm also announced a change to the default settlement method for conversions of both its 2030 and 2031 notes to physical settlement. Cipher Digital Inc. operates in the digital asset mining and infrastructure sector.
Cipher Digital Inc. priced a private offering of $850.0 million aggregate principal amount of 0.00% convertible senior notes due November 2032, with an initial conversion price of approximately $15.31 per share. The company granted purchasers a 13-day option to buy up to an additional $150.0 million in notes. Concurrently, Cipher expects to exchange approximately $165.9 million principal amount of its outstanding 1.75% Convertible Senior Notes due 2030 for roughly 40.7 million shares of common stock. Net proceeds are estimated at $835.1 million and will fund a capped call transaction, equity investment in the Barber Lake project, high-performance computing expansion, and general corporate purposes. Cipher Digital Inc. develops and operates industrial-scale data centers engineered for next-generation computing.
Cipher Digital Inc. announced its intention to offer $850 million aggregate principal amount of 0.00% convertible senior notes due November 1, 2032 in a private offering to qualified institutional buyers under Rule 144A. The company expects to grant initial purchasers an option to buy up to an additional $150 million of notes within 13 days. Concurrently, Cipher plans to exchange portions of its outstanding 1.75% Convertible Senior Notes due 2030 for common stock in privately negotiated transactions. Net proceeds will fund capped call transactions and equity investment in the Barber Lake data center project, while supporting high-performance computing expansion. The company develops and operates industrial-scale data centers engineered for next-generation computing.
Cipher Digital Inc. announced an amendment to its lease for the Barber Lake data center facility, extending the aggregate contracted term from ten years to twenty years. This extension includes a binding commitment from a leading AI lab for an additional ten-year lease following the conclusion of the existing Fluidstack lease. The transaction increases total contracted revenue at the facility from $3.8 billion to over $9 billion, adding approximately $5.2 billion in incremental revenue. Individual data halls are expected to be delivered between the fourth quarter of 2026 and the first quarter of 2027, with rent commencing upon delivery. The company will bear the first $359.3 million of cost overruns, with tenants reimbursing 50% of costs exceeding that threshold. Cipher Digital Inc. develops and operates industrial-scale data centers engineered for high-performance computing workloads.
Stingray Compute LLC, a subsidiary of Cipher Digital Inc., completed a private offering of $810.0 million in 6.000% Senior Secured Notes due 2031. The proceeds will be used to finance the Stingray Facility high performance computing data center in Texas, reimburse $61.5 million in prior equity contributions, and fund debt service reserves. The notes bear 6.000% interest payable semiannually on June 15 and December 15. Cipher Digital Inc. operates in the high performance computing and data center industry.
Cipher Digital Inc. announced that its wholly-owned indirect subsidiary, Stingray Compute LLC, priced an offering of $810.0 million in 6.000% senior secured notes due 2031 at a price of 99.750% of principal. The offering is expected to close on June 15, 2026. Cipher Digital Inc. operates in the digital technology and computing services industry.