Cipher Mining (CIFR) Company Report

Cipher Mining Inc. announced the redemption of all its outstanding warrants, with the redemption date set for December 26, 2025, at 5:00 p.m. New York City time.
The redemption price for each warrant is $0.01.
The company initiated the redemption because its common stock closing price was at least $18.00 per share for 20 trading days within a 30-day period ending November 21, 2025.
Warrant holders can exercise their warrants on a cashless basis until the redemption date, receiving 0.2687 of a share of Common Stock for each Warrant surrendered.
Warrants that remain unexercised by the December 26, 2025 deadline will become void, and holders will only be entitled to receive the $0.01 redemption price per warrant.

Nov 26, 2025, 1:00 PM

Press Release

Cipher Mining Expands AI Hosting Agreement with Fluidstack and Announces Debt Offering

CIFR

New Projects/Investments

Debt Issuance

Cipher Mining Inc. signed an additional 56 MW, 10-year AI hosting agreement with Fluidstack, securing approximately $830 million in contracted revenue over the initial term. This expands the total contracted revenue across the partnership to approximately $3.8 billion over the initial 10-year term.
This agreement will deliver an additional 39 MW of critical IT load at Cipher's Barber Lake site, resulting in Fluidstack leasing the entire 300 MW of capacity. Phase II of this development is expected to be completed and delivered by January 2027.
Google has expanded its backstop of Fluidstack’s lease obligations by an additional $333 million, increasing the total backstop to $1.73 billion.
Cipher Mining's subsidiary intends to offer $333 million in additional 7.125% senior secured notes due 2030 to finance a portion of the construction costs for the Barber Lake Facility expansion. This offering will bring the total aggregate principal amount of these notes outstanding to $1.733 billion.

Nov 20, 2025, 12:47 PM

8-K

Cipher Mining Inc. Issues Senior Secured Notes

CIFR

Debt Issuance

New Projects/Investments

Cipher Mining Inc. (CIFR), through its subsidiary Cipher Compute LLC, issued 7.125% Senior Secured Notes due 2030.
The indenture for these notes was dated November 13, 2025, with interest payable semi-annually on May 15 and November 15, starting May 15, 2026.
The notes are secured by collateral, which includes the capital stock of the Issuer and Company Parties, and their property.

Nov 13, 2025, 10:04 PM

8-K

Cipher Mining Subsidiary Prices $1.4 Billion Senior Secured Notes Offering

CIFR

Debt Issuance

New Projects/Investments

Cipher Mining Inc.'s wholly-owned subsidiary, Cipher Compute LLC, priced a $1.4 billion offering of 7.125% senior secured notes due 2030 at par on November 5, 2025.
The offering is expected to close on November 13, 2025, subject to market and other conditions.
The net proceeds will be used to finance a portion of the construction cost of the Barber Lake Facility, a high-performance computing data center near Colorado City, Texas.
The notes and related guarantee will be secured by first-priority liens on substantially all assets of the Issuer and the Guarantor, and Cipher will provide a customary completion guarantee for the Barber Lake Facility.

Nov 6, 2025, 11:30 AM

8-K

Cipher Mining Subsidiary Prices $1.4 Billion Senior Secured Notes

CIFR

Debt Issuance

New Projects/Investments

Cipher Mining Inc.'s wholly-owned subsidiary, Cipher Compute LLC, has priced a $1.4 billion offering of 7.125% senior secured notes due 2030 at par.
The offering is expected to close on November 13, 2025, with the net proceeds intended to finance a portion of the construction cost of the Barber Lake Facility, a high-performance computing data center near Colorado City, Texas.
The notes will be secured by first-priority liens on substantially all assets of the Issuer and Guarantor, equity interests of the Issuer, and a pledge by Google LLC of warrants to purchase common stock of Cipher, with Cipher Mining providing a customary completion guarantee for the facility.

Nov 6, 2025, 12:42 AM

Press Release

Cipher Mining announces proposed offering of senior secured notes

CIFR

Debt Issuance

New Projects/Investments

Cipher Mining Inc.'s wholly-owned subsidiary, Cipher Compute LLC, announced a proposed private offering of $1.4 billion in senior secured notes due 2030.
The net proceeds from this offering are intended to finance a portion of the construction cost of the Barber Lake Facility, a high-performance computing data center near Colorado City, Texas.
Cipher Mining Inc. will provide a customary completion guarantee for the Barber Lake Facility.

Nov 4, 2025, 1:44 PM

8-K

Cipher Mining Subsidiary Announces Proposed Senior Secured Notes Offering

CIFR

Debt Issuance

New Projects/Investments

Cipher Mining Inc.'s wholly-owned subsidiary, Cipher Compute LLC, intends to offer $1.4 billion aggregate principal amount of senior secured notes due 2030.
The net proceeds from this private offering are designated to finance a portion of the construction cost of the Barber Lake Facility, a high-performance computing data center near Colorado City, Texas.
Cipher Mining will provide a completion guarantee for the Barber Lake Facility, committing to fund the Issuer if the notes' proceeds and other available funds are insufficient for timely completion.

Nov 4, 2025, 1:35 PM

Press Release

Cipher Mining Pivots to HPC with Major AWS and Google Deals, Secures 1 GW Site, and Raises $1.3 Billion in Q3 2025

CIFR

New Projects/Investments

Convertible Preferred Issuance

CFO Change

Cipher Mining has made a significant strategic pivot into the high-performance computing (HPC) space, securing two landmark deals: a 15-year lease with Amazon Web Services for 300 MW of capacity, projected to generate approximately $5.5 billion in contract revenue, and a 10-year AI hosting agreement with Fluidstack and Google for 168 critical IT megawatts, representing approximately $3 billion in contracted revenue.
The company announced the acquisition of a joint venture to develop Colchis, a 1 GW site in West Texas with targeted power availability in 2028, significantly expanding its development pipeline to 3.2 GW of future capacity.
Cipher Mining completed a $1.3 billion convertible offering (0% Convertible Senior Notes due 2031) in Q3 2025, bolstering its balance sheet to fund construction at HPC sites and advance its development pipeline.
For Q3 2025, Cipher Mining reported $72 million in revenue, a 65% increase from the prior quarter, and a GAAP net loss of $3 million, or $0.01 per share. Total current assets increased to $1.4 billion, primarily due to the convertible offering proceeds.
Greg Mumford has been appointed as the new Chief Financial Officer, succeeding Ed Farrell.

Nov 3, 2025, 1:00 PM

Transcript

CIFR Reports Q3 2025 Financial and Operational Highlights

CIFR

Earnings

New Projects/Investments

Revenue Acceleration/Inflection

CIFR reported Q3 2025 revenue of ~$72 million, a ~65% increase quarter-over-quarter, and Non-GAAP Adjusted Earnings of ~$41 million, up ~34% QoQ. The company's cash and cash equivalents significantly increased to ~$1.2 billion as of September 30, 2025.
The company executed a 15-year data center campus lease with Amazon Web Services for 300 MW gross capacity, estimated at ~$5.5 billion, with rent commencing in August 2026. This, combined with a 10-year lease with Fluidstack (backed by Google) for 244 MW gross and ~$3.0 billion in minimum contracted revenue, shifts the pro-forma capacity mix to ~67% AI/HPC.
CIFR secured a 1 GW Colchis site expected to energize in 2028 and completed a convertible offering that raised gross proceeds of ~$1.3 billion. The total self-mining hashrate also increased by ~40% quarter-over-quarter to ~23.6 EH/s.

Nov 3, 2025, 1:00 PM

Presentation

Cipher Mining Announces Strategic Pivot to HPC with Major Deals and $1.3 Billion Convertible Offering

CIFR

New Projects/Investments

Convertible Preferred Issuance

Earnings

Cipher Mining announced a strategic pivot to high-performance computing (HPC), securing a 15-year lease with Amazon Web Services for 300 megawatts and approximately $5.5 billion in contract revenue, and a 10-year AI hosting agreement with FluidStack and Google for 168 critical IT megawatts and approximately $3 billion in contracted revenue.
The company expanded its development pipeline by acquiring ownership in a joint venture to develop Colcas, a 1-gigawatt site in West Texas, with targeted power availability in 2028.
To fund its HPC strategy, Cipher Mining completed a $1.3 billion convertible offering (0% Convertible Senior Notes due 2031), which was seven times oversubscribed and significantly strengthened its balance sheet.
For Q3 2025, revenue increased 65% quarter-over-quarter to $72 million, while the company reported a GAAP net loss of $3 million or $0.01 per share. Total current assets rose to $1.4 billion, primarily due to the convertible offering.
Operational mining capacity reached 477 megawatts, with a self-mining hash rate of approximately 23.6 exahash per second.

Nov 3, 2025, 1:00 PM

Transcript

Earnings Transcripts

Quarterly earnings call transcripts for Cipher Mining.

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