CIFR · Cipher Mining Inc.

The filing reports that on June 8, 2026, Cipher Digital Inc. announced the pricing of $810.0 million aggregate principal amount of 6.000% senior secured notes due 2031 by its wholly-owned indirect subsidiary, Stingray Compute LLC. The notes were priced at 99.750% of par. The offering is a private placement under Rule 144A and Regulation S, expected to close on June 15, 2026. The net proceeds will be used to complete the Stingray Facility, reimburse prior equity contributions (approximately $61.5 million), and fund debt service reserves. The notes are guaranteed by Cipher Stingray LLC and secured by first-priority liens on substantially all assets of the issuer and guarantor, as well as the equity interests of the issuer held by Cipher Stingray Holdings LLC. Cipher Digital provides a completion guarantee for the Stingray Facility, ensuring timely completion if proceeds are insufficient. This debt offering significantly increases the company's leverage and provides dedicated financing for its data center development. Investors should monitor the use of proceeds and the completion of the facility, as the notes are secured by project assets.