Cipher Mining Inc. (NASDAQ: CIFR) shares are trending on Friday.
Check out the current price of CIFR stock here.
Stock Jumps on Major Financial Moves
The shares of the blockchain mining company climbed 5.2% to $12.24 during after-hours trading on Thursday, following regular session gains of 17.72% . The data center operator announced two significant transactions totaling over $3.8 billion in potential value.
According to Benzinga Pro data, on Thursday, CIFR closed at $11.64.
$800 Million Convertible Notes Drive Capital Strategy
Cipher announced plans for an $800 million private offering of 0.00% convertible senior notes due 2031. The initial buyers of these notes have the option to purchase an additional $120 million worth within 13 days, potentially bringing the total raised amount to $920 million.
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The company plans to use the funds raised from the offering to build data centers at Barber Lake, speed up its high-performance computing (HPC) strategy within its 2.4 GW pipeline, and expand its development sites. The notes will be convertible into Cipher’s common stock starting on July 1, 2031, under certain conditions.
$3 Billion AI Hosting Agreement Transforms Business
Cipher simultaneously disclosed a 10-year colocation agreement with Fluidstack for high-performance computing (HPC), securing about $3 billion in contracted revenue. The agreement also includes two five-year extension options, which could bring the total value to $7 billion.
Google (NASDAQ: GOOG) (NASDAQ: GOOGL) will guarantee $1.4 billion of Fluidstack’s lease obligations and, in return, receive warrants for around 24 million shares, which would give them a 5.4% equity stake in the company. The agreement will provide 168 MW of critical IT load at Cipher’s Texas facility by September 2026.
Google’s backing transforms Cipher from a niche Bitcoin (CRYPTO: BTC) miner into a leveraged AI-crypto convergence play.
Market Impact and Technical Analysis
According to the company press release, Cipher projects 80%-85% site net operating income margins for the Fluidstack hosting project
CIFR shares have gained 151.29% year-to-date, trading within a 52-week range of $1.86-$15.54. The company maintains a $4.59 billion market cap with an average daily volume of 36.82 million shares.
Recent momentum included Arete Research‘s Buy rating with $24 price target and resilience despite $33.3 million insider sales by major stakeholder V3 Holding.
With a strong Momentum in the 98th percentile, Benzinga’s Edge Stock Rankings indicate that CIFR has a positive price trend across all time frames. Know how its momentum lines up with other well-known names.
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