Shares of Cipher Digital (CIFR) rose 9% in premarket trading after the company, formerly a bitcoin miner, announced a new long-term data center lease and said it had secured a $200 million revolving credit facility.
The company revealed 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 on an existing site, strengthening its position as a partner to 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, boost liquidity and fund future growth initiatives.
Cipher Digital, formerly known as Cipher Mining, has changed its name to reflect a strategic shift away from bitcoin production toward the development of industrial-scale data centers for AI and cloud workloads. The move aligns the company with the growing demand for high-performance computing capacity.
