Cipher Mining Inc. Announces Pricing of $1.4 Billion of Senior Secured Notes

Core Viewpoint - Cipher Mining Inc. has announced a $1.4 billion offering of 7.125% senior secured notes due 2030 to finance the construction of the Barber Lake Facility, a high-performance computing data center in Texas [1][2]. Group 1: Offering Details - The offering consists of 7.125% senior secured notes priced at par, expected to close on November 13, 2025, subject to market conditions [1]. - The net proceeds from the offering will be used to finance a portion of the Barber Lake Facility's construction costs [2]. - The notes will be fully guaranteed by Cipher Barber Lake LLC, a wholly-owned subsidiary of the issuer, and secured by first-priority liens on substantially all assets of the issuer and the guarantor [3]. Group 2: Security and Guarantees - The notes will be secured by various assets, including equity interests held by Cipher Songbird LLC and a pledge by Google LLC of warrants to purchase common stock of Cipher [3]. - Cipher will provide a completion guarantee for the Barber Lake Facility, ensuring funding if the proceeds from the notes are insufficient [4]. Group 3: Company Overview - Cipher Mining focuses on developing and operating industrial-scale data centers for bitcoin mining and high-performance computing (HPC) hosting, aiming to be a market leader in innovation within the industry [6].