Cipher Mining Issues $150 Million in Convertible Bonds for Data Center
- Cipher Mining plans to issue $150 million in convertible bonds, maturing in 2030.
- An option exists to expand the bond issuance by an additional $22.5 million within 30 days.
- Funds will primarily support the construction of the Black Pearl data center.
- Capital will also be used for acquiring mining rigs and covering logistics costs.
- Cipher aims to achieve a hash rate of 16 EH/s by the end of Q2.
The issuance of $150 million in convertible bonds will enable Cipher Mining to construct the Black Pearl data center and enhance its equipment procurement strategy, targeting a hash rate of 16 EH/s by Q2’s end.
Source (2.6)https://hodl.press/cipher-mining-secures-150m-for-black-pearl-data-center/?rand=24434
