According to ChainCatcher, citing market sources, Bitcoin mining company Cipher Mining Inc. announced that its wholly-owned subsidiary, Black Pearl Compute LLC, plans to issue $2 billion in aggregate principal amount of senior secured notes due 2031 through a private placement. The offering is directed to qualified institutional buyers and aims to fund the company's high-performance computing data center, the "Black Pearl Facility," located in Wink, Texas. The proceeds will primarily be used to cover the remaining construction costs of the Black Pearl Facility, repay approximately $232.5 million in equity previously invested by Cipher into the project subsidiary, establish a debt service reserve fund, and cover related expenses.
Bitcoin Mining Firm Cipher Mining to Issue $200M Senior Secured Notes
ChaincatcherShare
Summary
Bitcoin breaking news: Cipher Mining Inc. announced that its subsidiary, Black Pearl Compute LLC, will issue $200 million in senior secured notes due in 2031. The private offering targets qualified institutional buyers and funds the Black Pearl Facility in Wink, Texas. Proceeds will cover construction costs, repay $23.25 million in equity, establish a debt service reserve, and pay related expenses. Bitcoin news reports the move as part of the firm’s expansion into high-performance computing infrastructure.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.