Cipher Digital ( CIFR ) shares rose 9% in premarket trading after the company, formerly a bitcoin miner, announced a new long-term data center lease and said it secured a $200 million revolving credit facility.
The company unveiled a 15-year lease with an investment-grade hyperscale tenant for its third data center campus. Cipher will develop and deliver a high-performance computing facility at an existing site, strengthening its position as a partner for large technology companies building AI infrastructure.
Cipher also announced a revolving credit facility of up to $200 million, with an additional $50 million accordion option. Backed by a syndicate of leading global banks, the facility provides non-dilutive capital to support expansion, increase liquidity and fund future growth initiatives.
Cipher Digital, formerly known as Cipher Mining, has been rebranded to reflect a strategic pivot away from bitcoin production towards the development of industrial-scale data centers for AI and cloud workloads. The move aligns the company with the rapidly growing demand for high-performance computing capacity.
