Cipher Mining lands hyperscaler leases
Cipher Mining announced new 15‑year hyperscaler‑style data center leases plus a $200 million credit facility to expand AI infrastructure capacity—signaling increased demand for systems engineers in data‑center ops. The move spotlights long‑term, capital‑intensive commitments to host AI compute at scale. (social post)
Morgan Stanley acted as administrative agent and lead arranger on the new syndicated bank group, with Goldman Sachs, JPMorgan Chase, Wells Fargo, Banco Santander and Sumitomo Mitsui listed as participating lenders. (computing.net)) The bank facility closed undrawn and includes a $50 million accordion option, bears interest at SOFR plus 125–175 basis points, and carries a scheduled maturity in March 2030. (computing.net)) Cipher described the deal as its third large AI/HPC campus lease and said it currently shows a development pipeline of roughly 3.4 gigawatts across seven projects, including the “Ulysses” site where it purchased about 195 acres in Ohio in January 2026. (datacenterdynamics.com)) Earlier company transactions include a separate, previously announced agreement with Amazon Web Services that covers roughly 300 MW and about $5.5 billion of contracted revenue, and Cipher has reported a Colchis joint-venture tied to a 1 GW Texas development supported by a 1 GW AEP power agreement. (davispolk.com)) Analysts and company filings show the bank facility’s SOFR-based pricing implied an effective borrowing cost in the mid‑6% range given recent SOFR levels, and Cipher has earlier issued longer-dated bonds including a $1.4 billion senior secured note at 7.125% and a $2.0 billion senior note due 2031 priced at 6.125%. (theenergymag.com)) The credit agreement includes specific covenants requiring minimum quarterly liquidity levels in a range of $100 million to $200 million (depending on cash flow at named sites) and a minimum market capitalization threshold of about $3 billion to permit borrowings. (computing.net)) Market reaction to the announcement was positive, with Cipher Digital shares jumping roughly 9% in one report and more than 11% in other intraday coverage as investors priced the company’s pivot toward contracted AI/HPC revenue. (coindesk.com))
