On June 15, Cipher Mining Inc. rose 5.22% in pre-market trading, trading at $25.64/share, with turnover of approximately $1.30 million.

The stock continues to benefit from the recent completion of an $810 million senior secured notes offering by its subsidiary Stingray Compute LLC. The notes, due 2031 with a coupon rate of 6.000% and issued at 99.750% of par value, will fund construction of the Stingray data center facility in West Texas. The project is backed by a 15-year lease agreement with Amazon for AI computing purposes.

This marks Cipher Digital's second major debt market transaction this year, following a $20 billion bond offering in February for the Black Pearl data center project, which attracted over $130 billion in subscription demand. The company, formerly known as Cipher Mining, has been actively transitioning from bitcoin mining to high-performance computing and AI data center development. The deal was jointly underwritten by Morgan Stanley, Goldman Sachs, Wells Fargo, Santander, and SMBC Nikko Securities.

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