Bitcoin Miner Secures Funding for Texas HPC Data Center with $2.8 Billion Private Placement

Cipher Mining Inc. (NASDAQ: CIFR) announced on February 4 that its subsidiary, Black Pearl Compute LLC, has priced $2.0 billion of 6.125% senior secured notes due 2031 at par. The offering is expected to close on February 11.

Proceeds will fund the remaining construction costs of the high-performance computing data center in Wink, Texas; repay approximately $232.5 million of prior equity contributions; establish reserves for interest payments; and cover related fees. The notes are secured by first-priority liens on the assets and equity interests of the project subsidiaries, and parent company Cipher Mining has provided a completion guarantee for the facility.

Cipher Mining has also signed multi-billion-dollar, long-term data center lease and high-performance computing (HPC) hosting agreements with Amazon Web Services (AWS) and Google-backed FluidStack, reflecting its expansion beyond Bitcoin mining into AI and cloud infrastructure services.

Listed on Nasdaq, Cipher Mining operates large-scale data centers in Texas and other locations, combining Bitcoin mining with HPC and AI hosting services.