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Investing.com -- Cipher Mining Inc. (NASDAQ:CIFR) stock fell 10% on Tuesday, giving back part of Monday’s 22% gain, after the company announced plans for a $1.4 billion senior secured notes offering.
The cryptocurrency mining company said its wholly-owned subsidiary, Cipher Compute LLC, intends to offer $1.4 billion in senior secured notes due 2030 to qualified institutional buyers. Proceeds will help finance construction of the Barber Lake Facility, a high-performance computing data center near Colorado City, Texas.
This decline follows Monday’s sharp rally when Cipher announced a significant 15-year lease agreement with Amazon Web Services (NASDAQ:AMZN) valued at approximately $5.5 billion. The agreement, revealed in Cipher’s third quarter earnings report, involves providing data center space and power for AI workloads.
Under the terms of the deal, Cipher will deliver 300 MW of capacity in 2026, including both air and liquid cooling systems. The capacity will be delivered in two phases beginning in July 2026 and completing in the fourth quarter of 2026, with rent payments starting in August 2026.
The notes offering announcement appears to have prompted profit-taking following yesterday’s enthusiasm about the Amazon partnership, as investors assess the implications of the additional debt load alongside the company’s expansion plans.
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