Cipher Mining subsidiary Black Pearl Compute to offer $2.0B senior secured notes due 2031 for data center financing

Cipher Digital Inc.

Black Pearl Compute, Cipher's subsidiary, intends to offer $2.0B senior secured notes due 2031 to qualified institutional buyers.
Net proceeds to finance remaining cost of Black Pearl Facility high-performance computing data center in Wink, Texas.
Proceeds also to reimburse Cipher ~$232.5M for prior equity contributions to fund facility capital expenditures.
Notes secured by substantially all assets of issuer and guarantors; Cipher provides completion guarantee for facility.
Offering is subject to market conditions; no assurance on completion or terms.

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