---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-218502"
form_type: "8-K"
ticker: "CIFR"
cik: "0001819989"
company_name: "Cipher Digital Inc."
filed_at: "2025-09-26T23:59:59+00:00"
generated_at: "2026-05-17T05:35:43.426425+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Cipher Mining prices $1.1B 0% convertible notes due 2031; upsized from $800M

## Summary
- Upsized offering: $1.1B aggregate principal, 0.00% coupon, matures Oct 1, 2031; initial purchasers have 13-day option for additional $200M.
- Initial conversion price ~$16.03/share (37.5% premium over $11.66 closing on Sept 25, 2025).
- Net proceeds ~$1.08B ($1.27B with option exercise); ~$70M for capped call, balance for Barber Lake data center and HPC strategy.
- Capped call transactions with cap price $23.32/share to mitigate dilution upon conversion.
- Stockholder approval required for settlement in shares if conversion exceeds authorized share count.

## SEC filing metadata
- accession: 0001193125-25-218502
- form_type: 8-K
- ticker: CIFR
- cik: 0001819989
- company_name: Cipher Digital Inc.
- filed_at: 2025-09-26T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1819989/000119312525218502/0001193125-25-218502-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1819989/000119312525218502/d936051d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-218502
- JSON: https://secwatch.observer/filing/0001193125-25-218502.json
- Plain text: https://secwatch.observer/filing/0001193125-25-218502.txt

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