Cipher Mining Inc. announced the pricing of $1.1 billion in convertible senior notes due 2031 in a private offering. The notes will be convertible into shares of common stock at an initial conversion price of $16.03 per share, representing a 37.5% premium. Cipher estimates net proceeds of approximately $1.08 billion. The company plans to use the funds for data center construction, HPC strategy, pipeline expansion, and general corporate purposes. Additionally, Cipher entered into capped call transactions to hedge against potential dilution of common stock. J. Wood Capital Advisors LLC acted as financial advisor to the company.

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