PANews February 5 News, according to Bloomberg, Bitcoin mining company Cipher Mining (Nasdaq: CIFR) and its AI subsidiary Black Pearl Compute attracted up to $13 billion in demand for a $2 billion junk bond sale on Tuesday. The proceeds will be used to build the Black Pearl data center in Texas, which was leased to Amazon Web Services (AWS) in November last year for at least 15 years, with a total contract revenue expected to reach $5.5 billion.
Black Pearl’s newly issued five-year bonds priced on Wednesday at a yield of 6.125%, and the funds will also be used to repay Cipher’s previous equity investment of approximately $232.5 million in Black Pearl and other company needs. The bonds are secured by a first-priority lien covering almost all of the issuer’s and guarantor’s assets.
Cipher has previously reached multiple high-value partnership agreements with FluidStack and Google, demonstrating a trend of diversification into high-performance computing. However, Cipher’s stock fell 12.36% on Wednesday, closing at $14.25, amid ongoing sell-offs in cryptocurrencies and related stocks. Cipher is currently the fourth-largest Bitcoin miner by market capitalization.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Nakamoto, a Bitcoin treasury company, seeks a reverse stock split to maintain Nasdaq listing eligibility
Bitcoin treasury company Nakamoto is seeking shareholder approval for a reverse stock split plan to address the ongoing decline in the share price and maintain its Nasdaq listing qualification. The company plans to combine shares at a ratio ranging from 1-to-20 to 1-to-50. The current share price is about $0.22, down roughly 99% from its peak. At the same time, Nakamoto has sold about 5% of its Bitcoin holdings for liquidity management.
GateNews26m ago
Bitcoin Developer Unveils Quantum-Resistant Wallet Rescue Prototype
A new prototype from Lightning Labs CTO Olaoluwa Osuntokun could help bitcoin users recover funds if quantum threats force drastic network changes. The tool addresses a key risk in proposed emergency upgrades.
Key Takeaways:
Lightning Labs CTO Olaoluwa Osuntokun built a prototype to secure bitcoi
Coinpedia29m ago
Bitcoin Depot Discloses $3.6M BTC Theft After Hack on Settlement Accounts
Bitcoin Depot reported a security breach where hackers stole 50.9 BTC, worth approximately $3.6 million, by compromising internal settlement account credentials. This incident highlights vulnerabilities in crypto companies' operational infrastructure, emphasizing the need for enhanced security measures.
CryptoNewsFlash35m ago
A whale that chased BTC higher within the day cut a long position of $17.6 million for a stop-loss; the position was closed at $71,463.
On April 10, Hyperinsight detected that Hyperliquid’s BTC main long address 0x1e9 closed out 247 BTC at $71,463, incurring a loss of about $180k. It chose to cut losses due to the BTC price pullback.
GateNews1h ago
Strategy Q1 Adds 89,599 BTC, Why Are Corporate Treasury and BTC ETF Funds Moving in Opposite Directions?
Strategy In Q1, bought 89,599 BTC, while Bitcoin ETFs saw nearly $500 million in outflows year over year, marking a historic divergence in capital between the two types of institutions.
InstantTrends2h ago
