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Cipher Mining Plans $800M Convertible Note Offering to Expand Crypto Infrastructure
Cipher Mining Plans $800M Convertible Note Offering to Expand Crypto Infrastructure
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BTCCSquare news:
Cipher Mining (NASDAQ: CIFR) is launching an $800 million private offering of 0.00% convertible senior notes due 2031, with an option to expand the raise to $920 million. The unsecured notes can be converted into cash, common stock, or a combination, subject to future conditions. The company is implementing capped call transactions to mitigate potential shareholder dilution.
Proceeds will fund the construction of a Barber Lake data center, accelerate high-performance computing (HPC) deployment across a 2.4 GW pipeline, and develop future mining sites. This capital raise aligns with Cipher's $3 billion AI hosting agreement with Google-backed Fluidstack, signaling aggressive expansion in crypto infrastructure.
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