Cryptominer firm turned HPC data center developer Cipher Digital plans to raise $810 million in senior secured notes, due 2031.
The majority of the funds will be used to fund the remaining cost of the Stingray data center, a 100MW development in West Texas.
Around $63.6m will be used to reimburse Cipher for prior equity contributions to Stingray, and other funds will be used for debt service reserves.
Cipher has yet to disclose when the notes will be issued, nor what the interest rate is expected to be.
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