debt
confidence high
sentiment neutral
materiality 0.70
Cipher Mining subsidiary prices $1.4B of 7.125% senior secured notes due 2030 for Barber Lake data center
Cipher Digital Inc.
- $1.4B aggregate principal, 7.125% senior secured notes due 2030, priced at par.
- Expected close Nov 13, 2025; net proceeds to finance Barber Lake Facility (high-performance computing data center near Colorado City, TX).
- Notes secured by assets of Issuer (Cipher Compute LLC) and Guarantor (Cipher Barber Lake LLC); Google LLC pledges warrants as collateral.
- Cipher provides completion guarantee for Barber Lake Facility if proceeds and other funds are insufficient.
- Offered to qualified institutional buyers under Rule 144A; notes are unregistered and not offered in the US absent exemption.