PANews reported on February 3 that, according to Globenewswire, Bitcoin mining company Cipher Mining Inc. announced that its wholly owned subsidiary, Black PearlPANews reported on February 3 that, according to Globenewswire, Bitcoin mining company Cipher Mining Inc. announced that its wholly owned subsidiary, Black Pearl
Bitcoin mining company Cipher Mining plans to issue $2 billion in senior secured notes.
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PANews reported on February 3 that, according to Globenewswire, Bitcoin mining company Cipher Mining Inc. announced that its wholly owned subsidiary, Black Pearl Compute LLC, plans to issue $2 billion in senior secured notes due in 2031 through a private placement. The offering is targeted at qualified institutional investors and aims to fund the company's high-performance computing data center, the "Black Pearl Facility," in Wink, Texas.
The funds raised will be primarily used to pay the remaining construction costs of the Black Pearl facility, repay Cipher's previous equity investment of approximately $232.5 million in the project subsidiary, establish a debt service reserve, and pay related expenses.
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