Cipher Digital plans to issue $850 million in convertible bonds, raising project contract revenue expectations

Cipher Digital, a Nasdaq listed company, plans to issue $850 million in zero coupon convertible bonds for the Barber Lake project and the expansion of its high-performance computing data center business. The private placement scale can reach up to $1 billion, and if the initial buyer exercises the option, an additional $150 million in bonds will be issued. Cipher Digital plans to convert some convertible bonds due in 2030 with a 1.75% coupon rate into common stock, and increase the expected contract revenue for the Barber Lake project in Colorado City, Texas from $3.8 billion to over $9 billion. (Source: Theenergymag)