Cipher Mining Inc. (NASDAQ: CIFR) today announced that its wholly-owned subsidiary, Black Pearl Compute LLC, plans to issue $200 million in senior secured notes due in 2031. The proceeds will primarily be used to complete the construction of the Black Pearl high-performance computing data center in Wink, Texas, repay approximately $23.25 million in initial equity investments, establish a debt reserve, and cover related expenses. The notes will be guaranteed by the company's subsidiary and secured by a first lien on most of the issuer's assets.
Cipher Mining Plans $200M Senior Secured Notes Offering
TechFlowShare
Summary
Cipher Mining Inc. (NASDAQ: CIFR) announced that its subsidiary, Black Pearl Compute LLC, plans to issue $200 million in senior secured notes due in 2031. The offering comes amid ongoing Federal Reserve updates on monetary policy. The funds will be used to complete the Black Pearl data center in Wink, Texas, repay $23.25 million in initial equity, and establish a debt reserve. The notes are guaranteed by the subsidiary and secured by a first lien on most of its assets. This move follows recent inflation data indicating persistent economic pressures.
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