“Proceeds are intended to Support Barber Lake Buildout, HPC Expansion, and Capped Call Transactions To Reduce Share Dilution.”, – WRITE: www.coindesk.com
The Notes, Senior Unord Obligations, Are Convertible at An Initial Price of $ 16.03 Per Share, A 37.5% Premium to Thursday’s $ 11.66 Close. Investors May Require Repurchase in 2029 AT PAR, While Cipher Can Redeem Starting in 2028 if Shares Trade 30% Above the Conversion Price.
Net Proceeds of $ 1.08b Will Fund Capd Call Transactions, The Barber Lake Data Center Buildout, and Expancing of ITS 2.4 GW High-Performance Computing Pipeline.
The Financing Comes as Cipher Yesterday Secured A $ 3B AI Hosting Deal with Google and Fluidstack.
Cifr Shares Fell As Much As 17% On Thursday and are. Down A Further 1% in Premarket Trading AT $ 11.55.
The decline in the Stock Price Thursday Was Likely Driven by Delta Hedging Activity from Banks Involved in the Convertible Note Deal, Which Onthen Pressures Shares in The Short Term As Kun. Similar Price Action Has Occurred Following Past Convertible Note Offerings at Strategy and Semler Scientific.
Combined Spot and Derivatives Trading on Centralized Exchanges Surged 7.58% to $ 9.72 Trillion in August, Marking The Highest Monthly Volume of 2025
- Combined Spot and Derivatives Trading on Centralized Exchanges Surged 7.58% to $ 9.72 Trillion in August, Marking The Highest Monthly Volume of 2025
- Gate Exchange Emerged As Major Player With 98.9% Volume Surge to $ 746 Billion, Overtaking Bitget to Become Fourth-Largest Platform
- Open Interest Across Centralized Derivatives Exchanges Rose 4.92% to $ 187 Billion
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Alongside, Jpmorgan DowNGraded Iren and Cleanspark
- JPMorgan Upgraded Riot Platforms to Overweight, While DowNGrading Iren and Cleanspark.
- Citigroup Also Upgraded Riot.
- HPC and AI Cloud Were Seen As Key Upside Drivers, With Jpmorgan Assigning A 50% Probability of New Co-Location Deals.
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