On June 15, Cipher Mining rose 6.82% in regular trading, trading at $26.66/share, with turnover of $122 million. The stock continues to build on gains following the successful pricing of an $810 million senior secured notes offering earlier this month.

On June 9, Cipher Digital completed the pricing of $810 million in senior secured notes due 2031 through its subsidiary Stingray Compute LLC, carrying a 6.000% coupon rate at an issue price of 99.750% of par value. Proceeds will primarily fund completion of the Stingray data center facility in western Texas, which will be leased to Amazon under a 15-year agreement. The deal was jointly underwritten by Morgan Stanley, Goldman Sachs, Wells Fargo, Banco Santander, and SMBC Nikko Securities.

This marks the company's second major debt financing this year, following a $2 billion bond issuance in February for the Black Pearl data center project that attracted over $13 billion in subscriptions. The former Bitcoin mining company has been aggressively pivoting toward high-performance computing and AI data center operations, with long-term leases to hyperscalers providing more stable revenue visibility than traditional crypto mining.

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