---
schema_version: "secwatch.filing_event.v1"
accession: "0000950103-26-001966"
form_type: "8-K"
ticker: "CIFR"
cik: "0001819989"
company_name: "Cipher Digital Inc."
filed_at: "2026-02-11T23:59:59+00:00"
generated_at: "2026-05-16T03:21:42.585461+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Cipher subsidiary closes $2.0B 6.125% senior secured notes offering due 2031

## Summary
- $2.0B aggregate principal of 6.125% Senior Secured Notes due 2031 issued at 100% par by Black Pearl Compute, wholly-owned Cipher subsidiary.
- Notes mature Feb 15, 2031; interest payable semiannually starting Aug 15, 2026; amortization begins after Black Pearl Facility completion.
- Proceeds to finance remaining construction of Wink, TX HPC data center, reimburse Cipher $232.5M for prior equity, fund reserves, and fees.
- Cipher provides a completion guarantee to fund any shortfall if note proceeds and available funds insufficient to complete the facility.
- Notes are senior secured obligations; indenture includes customary covenants limiting additional debt, dividends, investments, and liens.

## SEC filing metadata
- accession: 0000950103-26-001966
- form_type: 8-K
- ticker: CIFR
- cik: 0001819989
- company_name: Cipher Digital Inc.
- filed_at: 2026-02-11T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1819989/000095010326001966/0000950103-26-001966-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1819989/000095010326001966/dp241421_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950103-26-001966
- JSON: https://secwatch.observer/filing/0000950103-26-001966.json
- Plain text: https://secwatch.observer/filing/0000950103-26-001966.txt

## Source-grounded claims
- claim_id: 68a9bd976301ef49563318f14154b9cc0ddf684c
  claim: Cipher Digital Inc. incurred senior notes of $2.0 billion with Morgan Stanley & Co. as representative of the initial purchasers at 6.125% per year maturing February 15, 2031.
  evidence_excerpt: Act”) and outside the United States to non-US persons in reliance on Regulation S under the Securities Act. The aggregate principal amount of notes sold in the offering was $2.0 billion. The notes were issued at a price equal to 100% of their principal amount. Black Pearl Compute intends to use the net proceeds from the offering (1) to finance the remaining cost
  evidence_url: https://www.sec.gov/Archives/edgar/data/1819989/000095010326001966/0000950103-26-001966-index.htm
- claim_id: cc91d3f6b9edd43e9c6be2f5813eebb9ee1518a7
  claim: Cipher Digital Inc. entered into 6.125% Senior Secured Notes due 2031 with Morgan Stanley & Co. valued at 2.0 billion (effective 2026-02-11).
  evidence_excerpt: On February 11, 2026, Black Pearl Compute LLC (“Black Pearl Compute” or the “Issuer”), a wholly-owned indirect subsidiary of Cipher Mining Inc. (“Cipher” or the “Company”), completed its previously announced private offering of 6.125% Senior Secured Notes due 2031 (the “notes”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1819989/000095010326001966/0000950103-26-001966-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.