Cipher Mining discloses illustrative financials for 244 MW HPC data center lease with Fluidstack

Cipher Digital Inc.

Projected total rent revenue of ~$3.0B over lease term (2026-2036).
Year 1 opex estimated at ~$36M, escalating 3% annually; 8.0% illustrative coupon on debt.
Backstop debt of $1.4B amortizes over lease; 50% excess cash flow offer assumed.
Lease commencement assumed September 30, 2026; final terms subject to financing.
Illustrative NOI margins shown, but figures are projections, not guidance.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.