Bitcoin Mining Company Cipher Mining Plans to Issue Convertible Senior Notes to Raise $150 Million
According to a report by Jinse Finance, Nasdaq-listed Bitcoin mining company Cipher Mining announced plans to issue convertible senior notes due 2030, subject to market and other conditions, with a total fundraising target of $150 million. It is reported that Cipher Mining will use the funds raised to complete the first phase of the Black Pearl data center project. Additionally, along with the issuance of the notes, Cipher Mining also announced that Morgan Stanley, on behalf of itself and/or its affiliates, plans to issue a certain number of common shares borrowed from third parties through a separate underwriting issuance to facilitate hedging transactions for some note purchasers.
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