Cipher Digital Stock Pops as Firm Bolsters Shift From Bitcoin Mining With 15-Year Data Center Deal
Cipher Digital, a developer and operator of industrial-scale data centers, has signed a 15-year lease for its third data center campus, expanding its shift from Bitcoin mining to supporting high-performance computing (HPC) and AI workloads. The new HPC data center will be built at an existing company site. Following the announcement, Cipher’s stock rose over 8%. The company also secured a syndicated revolving credit facility of up to $200 million, with an option for $50 million more, maturing in March 2030 and carrying interest at SOFR plus 1.25%-1.75%. Morgan Stanley and several major banks arranged the facility. Cipher rebranded from Cipher Mining in February, reflecting a strategic pivot to broader HPC services, while retaining a streamlined presence in Bitcoin mining. This move aligns with a wider industry trend of former Bitcoin miners diversifying into AI and advanced computing infrastructure.
