PANews reported on September 26th that, according to Globenewswire, Bitcoin mining company Cipher Mining (NASDAQ: CIFR) announced that it has priced $1.1 billion of 0.00% convertible senior notes due 2031, to be offered through a private placement. The offering size has been increased from the previously announced $800 million note offering. The issuance and sale of the notes is expected to close on September 30, 2025. Cipher has granted the initial purchasers of the notes a 13-day option to purchase up to an additional $200 million in aggregate principal amount of the notes.

Cipher expects to generate approximately $1.08 billion in net proceeds from the offering. Cipher plans to use approximately $70 million of the net proceeds to cover call option transaction costs and the remainder to fund the construction of its Barber Lake facility, accelerate the deployment of its 2.4 GW high-performance computing (HPC) strategy, continue to expand its development project pipeline, and for general corporate purposes.