Cipher Digital Plans $850 Million Convertible Senior Notes Offering and Debt Exchange

Cipher Digital Inc. announced a proposed private offering of $850 million in 0.00% convertible senior notes due 2032 to qualified institutional buyers. Concurrently, the company intends to exchange a portion of its existing 1.75% convertible senior notes due 2030 for common stock. The proceeds from this offering are earmarked for various corporate purposes, including capped-call transactions, equity investment, and high-performance computing development.