Cipher Mining Cashes Up To Accelerate Data Centre Expansion

Cipher Mining is going all in on data centre expansion. Which is exactly why they’ve just raised more than a billion dollars in a debt financing round.

What’s happening:

• Cipher Mining (NASDAQ: CIFR) has raised $1.1B USD in a new convertible note financing
  

By the numbers:‍

• The new convertible notes issued by Cipher Mining pay zero interest and can be converted into common shares at $16.03USD per share
  
• Investors in the convertible note financing also have the option to upsize the capital raise by an additional $200M USD
  

Why it matters:‍

• This is the single largest capital raise Cipher Mining has ever done since the company was first founded
  

Going deeper:‍

• Cipher Mining just recently made major waves on Wall Street when they cut a new $3B USD deal with Fluidstack AI for high performance computing at their Barber Lake data centre in Texas, which was partially backstopped by Google (NASDAQ: GOOG)

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