Cipher Digital Plans $850 Million Convertible Bond Offering

Cipher Digital plans to raise $850 million through a private offering of zero-coupon convertible bonds to expand its AI data-center capacity and high-performance computing business. The offering could grow to $1 billion if initial buyers exercise an option to purchase an additional $150 million of notes. The proceeds would support the Barber Lake project in Colorado City, Texas, and broader expansion of the company’s high-performance computing data-center operations. Cipher Digital also plans to convert part of its convertible bonds due in 2030, which carry a 1.75% coupon, into common stock.

Source: TokenPost