Cipher Digital Inc. (NASDAQ: CIFR) provided an update on its business activities related to a new data center campus lease and a revolving credit facility.
Cipher has signed its third data center campus lease with an initial term of 15 years involving an investment-grade Hyperscale tenant. The agreement includes the development and delivery of a new high-performance computing (HPC) data center at one of Cipher’s existing locations.
Cipher also announced the closing of a revolving credit facility with a committed capacity of up to $200 million and an additional option to increase the facility by $50 million.
The funds from this credit facility will be used to improve liquidity, support working capital needs, and finance growth projects. The facility matures in March 2030 and carries interest based on the Secured Overnight Financing Rate (SOFR) plus 1.25 percent to 1.75 percent, with potential reductions depending on the company’s debt-to-market capitalization ratio. The facility was not drawn upon at closing.
Greg Mumford, Chief Financial Officer, stated, “This transaction marks Cipher’s first syndicated revolving credit facility and represents a major step in the evolution of our capital structure.”
 signed a 15-year lease with an investment-grade Hyperscale tenant to develop a new HPC data center at an existing site.){kind=link}