Cipher Mining Inc. Announces Proposed Offering of $1.4 Billion of Senior Secured Notes
Cipher Mining (NASDAQ: CIFR) announced that subsidiary Cipher Compute LLC intends to offer $1.4 billion aggregate principal amount of senior secured notes due 2030 in a private Rule 144A offering to qualified institutional buyers.
Net proceeds are intended to finance part of the construction cost of the Barber Lake Facility high-performance computing data center near Colorado City, Texas. The Notes will be fully guaranteed by Cipher Barber Lake LLC and secured by first-priority liens on substantially all Issuer and Guarantor assets, equity interests, and certain pledged warrants and accounts. Cipher will provide a completion guarantee if funds are insufficient. The offering is subject to market and other conditions and the Notes are not registered under the Securities Act.
Cipher Mining (NASDAQ: CIFR) ha annunciato che la controllata Cipher Compute LLC intende offrire $1,4 miliardi di importo principale aggregato di note garantite senior con scadenza nel 2030 in un’offerta privata ai sensi della Rule 144A a sole istituzioni qualificato.
I proventi netti sono destinati a finanziare parte dei costi di costruzione della Barber Lake Facility, un data center di computing ad alte prestazioni vicino a Colorado City, in Texas. Le Note saranno completamente garantite da Cipher Barber Lake LLC e garantite da pegni di primo grado su quasi tutti gli asset dell’Emittente e del Garantitore, interessi azionari e alcune warrant e conti vincolati. Cipher offrirà una garanzia di completamento qualora i fondi risultassero insufficienti. L’offerta è soggetta a condizioni di mercato e altre condizioni, e le Note non sono registrate ai sensi della Securities Act.
Cipher Mining (NASDAQ: CIFR) anunció que la subsidiaria Cipher Compute LLC tiene la intención de ofertar $1.4 mil millones en monto principal agregado de notas senior garantizadas con vencimiento en 2030 en una oferta privada conforme a la Regla 144A a compradores institucionales calificados.
Los ingresos netos se destinarán a financiar parte del costo de construcción de la Barber Lake Facility, un centro de datos de computación de alto rendimiento cerca de Colorado City, Texas. Las notas serán totalmente garantizadas por Cipher Barber Lake LLC y aseguradas mediante gravámenes de prioridad primera sobre la casi totalidad de los activos del Emisor y del Garantiador, intereses de capital y ciertos pagarés y cuentas en garantía. Cipher proporcionará una garantía de finalización si los fondos son insuficientes. La oferta está sujeta a condiciones de mercado y otras condiciones, y las notas no están registradas bajo la Ley de Valores.
Cipher Mining (NASDAQ: CIFR)은 자회사인 Cipher Compute LLC가 $1.4십억의 총 원리 금액으로 고정된 1차 담보 부채를 2030년 만기까지의 사적 Rule 144A 공개 대상이 아닌 기관투자자에게 발행할 예정이라고 발표했습니다.
순수 조달금은 텍사스 주 Colorado City 근처의 Barber Lake Facility 고성능 컴퓨팅 데이터 센터 건설 비용 일부를 재원하기 위함입니다. 이 채권은 Cipher Barber Lake LLC가 전면 보증하고, 발행인 및 보증인의 자산, 지분, 특정 약정 보증 및 계정에 대한 최우선 유치권으로 보증됩니다. 기금이 부족할 경우 Cipher가 완성 보증을 제공합니다. 본 제안은 시장 등 조건에 따라 달라지며, 채권은 증권법에 따라 등록되지 않습니다.
Cipher Mining (NASDAQ: CIFR) a annoncé que sa filiale Cipher Compute LLC prévoit d’émettre 1,4 milliard de dollars en montant principal global d’obligations sécurisées senior arrivant à échéance en 2030, dans le cadre d’une offre privée suivant la règle 144A, à destination d’acheteurs institutionnels qualifiés.
Les recettes nettes sont destinées à financer partiellement le coût de construction de la Barber Lake Facility, un centre de données de calcul haute performance près de Colorado City, Texas. Les obligations seront entièrement garanties par Cipher Barber Lake LLC et garanties par des privilèges de premier rang sur la quasi-totalité des actifs de l’Émetteur et du Garant, des intérêts en actions et certaines warrants et comptes nantés. Cipher fournira une garantie d’achèvement si les fonds sont insuffisants. L’offre est soumise à des conditions de marché et autres, et les obligations ne sont pas enregistrées en vertu du Securities Act.
Cipher Mining (NASDAQ: CIFR) kündigte an, dass die Tochtergesellschaft Cipher Compute LLC beabsichtigt, insgesamt 1,4 Milliarden US-Dollar als Hauptbetrag an senior gesicherten Anleihen mit Fälligkeit 2030 in einem privaten Angebot nach Rule 144A an qualifizierte institutionelle Käufer zu emittieren.
Nettoerlöse sollen einen Teil der Baukosten der Barber Lake Facility, eines Rechenzentrums für Hochleistungs-Computing in der Nähe von Colorado City, Texas, finanzieren. Die Anleihen werden vollständig von Cipher Barber Lake LLC garantiert und durch Erstpfandrechte an nahezu allen Vermögenswerten des Emittenten und des Garanten, an Aktienbeteiligungen sowie an bestimmten verpfändeten Warrants und Konten gesichert. Cipher wird eine Fertigstellungsgarantie geben, falls die Mittel unzureichend sind. Das Angebot unterliegt Marktkonditionen und anderen Bedingungen, und die Anleihen sind gemäß dem Securities Act nicht registriert.
Cipher Mining (NASDAQ: CIFR) أعلنت أن الشركة التابعة Cipher Compute LLC تعتزم عرض $1.4 مليار كإجمالي قيمة أصلية لسندات مضمونة عالية الأولوية تستحق في 2030 في عرض خاص وفق القاعدة 144A للمشترين المؤسسيين المؤهلين.
يُخصص صافي العائدات لتمويل جزء من تكلفة بناء مرفق Barber Lake Facility، مركز بيانات حوسبة عالية الأداء، قرب Colorado City، تكساس. ستكون السندات مضمونة بالكامل من قبل Cipher Barber Lake LLC ومضمونة برهون من الدرجة الأولى على جميع أصول المصدر والمكلف، وحقوق الملكية، وبعض المذكرات المرهونة والحسابات. ستوفر Cipher ضمان إكمال إذا كانت الأموال غير كافية. العرض خاضع لظروف السوق وغيرها من الشروط، والسندات غير مُسجلة بموجب قانون الأوراق المالية.
- $1.4B targeted financing for Barber Lake construction
- Notes mature in 2030, providing multi-year funding certainty
- Notes secured by first-priority liens on Issuer and Guarantor assets
- Cipher provides a completion guarantee for the facility
- $1.4B of new secured debt increases leverage
- Substantial assets and equity interests will be encumbered as collateral
- Offering completion is uncertain and subject to market conditions
Insights
Cipher plans a
The Issuer intends to offer
Primary dependencies and risks include successful placement with institutional buyers and prevailing market conditions, since the offering is expressly subject to market and other conditions and may not occur on the stated terms. The security package and the completion guarantee strengthen creditor protections but also indicate that construction depends materially on this financing. Watch the closing or pricing of the offering, any changes to the pledged collateral (including the potential Google LLC warrant pledge), and construction milestones for the Barber Lake Facility over the next 12–36 months; these will determine whether the financing achieves its intended outcome.
NEW YORK, Nov. 04, 2025 (GLOBE NEWSWIRE) -- Cipher Mining Inc. (NASDAQ: CIFR) (“Cipher” or the “Company”) a leading developer and operator of industrial-scale data centers, today announced that its wholly-owned subsidiary, Cipher Compute LLC (the “Issuer”), intends to offer, subject to market conditions and other factors,
The Issuer intends to use the net proceeds from the offering to finance a portion of the construction cost of the Barber Lake Facility, a high-performance computing data center near Colorado City, Texas.
The Notes will be fully and unconditionally guaranteed by Cipher Barber Lake LLC (the “Guarantor”), a wholly-owned direct subsidiary of the Issuer. The Notes and related note guarantee will be secured by first-priority liens on (i) substantially all assets of the Issuer and the Guarantor, other than certain excluded property, (ii) all equity interests of the Issuer held by Cipher Songbird LLC, a Delaware limited liability company and the direct parent company of the Issuer, (iii) if and when established by Fluidstack, a designated lockbox account of Fluidstack USA II Inc., and (iv) prior to the completion of the Barber Lake Facility, a pledge by Google LLC of the warrants to purchase common stock of Cipher.
Cipher will provide a customary completion guarantee with respect to the Barber Lake Facility, under which it will fund the Issuer as necessary to ensure the timely completion of the Barber Lake Facility in the event that the proceeds of the Notes and other available funds are insufficient to do so.
The offering is subject to market and other conditions, and there can be no assurance as to whether, when or on what terms the offering may be completed.
The Notes have not been registered under the Securities Act, securities laws of any other jurisdiction, and the Notes may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act and any applicable state securities laws. The Notes will be offered only to persons reasonably believed to be qualified institutional buyers under Rule 144A under the Securities Act.
This press release shall not constitute an offer to sell, or a solicitation of an offer to buy the Notes, nor shall there be any sale of the Notes in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Cipher
Cipher is focused on the development and operation of industrial-scale data centers for bitcoin mining and HPC hosting. Cipher aims to be a market leader in innovation, including in bitcoin mining growth, data center construction and as a hosting partner to the world's largest HPC companies.
Forward Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws of the United States. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Any statements made in this press release that are not statements of historical fact, such as statements regarding the anticipated terms of the notes being offered, the completion, timing and size of the proposed offering of the notes, and the intended use of the net proceeds, are forward-looking statements and should be evaluated as such. These forward-looking statements generally are identified by the words “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “seeks,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “strategy,” “future,” “forecasts,” “opportunity,” “predicts,” “potential,” “would,” “will likely result,” “continue,” and similar expressions (including the negative versions of such words or expressions).
These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Cipher and our management, are inherently uncertain. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: volatility in the price of Cipher’s securities due to a variety of factors, including changes in the competitive and regulated industry in which Cipher operates, Cipher’s evolving business model and strategy and efforts we may make to modify aspects of our business model or engage in various strategic initiatives, variations in performance across competitors, changes in laws and regulations affecting Cipher’s business, and the ability to implement business plans, forecasts, and other expectations and to identify and realize additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 filed with the Securities and Exchange Commission (“SEC”) on February 25, 2025, our Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2025 filed with the SEC on August 7, 2025, our Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2025 filed with the SEC on November 3, 2025, and in Cipher’s subsequent filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Cipher assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
Contacts:
Investor Contact:
Courtney Knight
Head of Investor Relations at Cipher Mining
Courtney.knight@ciphermining.com
Media Contact:
Ryan Dicovitsky
Dukas Linden Public Relations
CipherMining@DLPR.com
FAQ
What is Cipher Mining (CIFR) offering with the $1.4 billion senior secured notes?
How will Cipher Mining use the proceeds from the CIFR $1.4B notes?
What collateral secures the Cipher Mining (CIFR) senior secured notes due 2030?
Does Cipher Mining guarantee the completion of the Barber Lake Facility tied to the CIFR notes?
Are the CIFR senior secured notes registered for public sale in the U.S.?
