---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-123159"
form_type: "8-K"
ticker: "CIFR"
cik: "0001819989"
company_name: "Cipher Digital Inc."
filed_at: "2025-05-20T23:59:59+00:00"
generated_at: "2026-05-21T00:23:05.651674+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Cipher Mining announces $150M convertible notes due 2030, Bitmain rig amendment with 10% discount

## Summary
- $150M convertible senior notes offering (due May 2030); underwriters option for additional $22.5M.
- Concurrent delta offering of borrowed common stock to facilitate hedging by note purchasers.
- Bitmain amendment: remaining miners delivered by June 23, 2025; early lump-sum payment of $108.2M (10% reduction from $120.2M).
- Company also receives BTC-linked call options from Bitmain as additional value.
- Net proceeds to fund Phase 1 of Black Pearl data center including rig purchases at discount and infrastructure.

## SEC filing metadata
- accession: 0001193125-25-123159
- form_type: 8-K
- ticker: CIFR
- cik: 0001819989
- company_name: Cipher Digital Inc.
- filed_at: 2025-05-20T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1819989/000119312525123159/0001193125-25-123159-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1819989/000119312525123159/d876438d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-123159
- JSON: https://secwatch.observer/filing/0001193125-25-123159.json
- Plain text: https://secwatch.observer/filing/0001193125-25-123159.txt

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