Cipher Mining pares gains after unveiling $800 million convertible bonds offering

Cipher Digital

25/09/2025 12:17

Updates

** Bitcoin miner and data center developer Cipher Mining's CIFR.O shares pare premarket gains; still up 5.3% at $14.89

** CIFR announces offering of $800 million of convertible bonds due 2031 to finance data center construction among other purposes

** Stock had jumped more than 20% premarket after CIFR announced 10-year data center deal with AI cloud platform Fluidstack, representing nearly $3 billion in contracted revenue

** Under the deal, CIFR will deliver 168 megawatt of power by September 2026

** Alphabet's Google GOOGL.O will backstop $1.4 billion of Fluidstack's lease obligations and receive warrants to buy roughly 24 million CIFR shares, or a 5.4% stake

** 11 of 13 brokerages rate the stock "buy" or higher and 2 "hold"; median PT $7.50 - data compiled by LSEG

** As of last close, CIFR stock up ~205% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))