Cipher Digital (CIFR) shares jumped 9% in pre-market buying and selling after the corporate, previously a bitcoin miner, introduced a brand new long-term data-center lease and stated it secured a $200 million revolving credit score facility.
The corporate, which rebranded from Cipher Mining in February, revealed a 15-year lease settlement with an investment-grade hyperscale tenant for its third knowledge heart campus. Cipher will develop a high-performance computing facility at an present web site, strengthening its place as a associate to massive know-how companies constructing AI infrastructure.
The corporate renamed itself to replicate a strategic pivot away from bitcoin manufacturing towards the event of industrial-scale knowledge facilities for synthetic intelligence and cloud workloads. The transfer aligns the corporate with the quickly rising demand for high-performance computing capability.
The revolving credit score facility has an extra $50 million accordion possibility. Backed by a syndicate of main world banks, the power offers non-dilutive capital to help enlargement, enhance liquidity, and fund future development initiatives.