Proceeds will primarily cover cost overruns at the Barber Lake facility, where capital expenditures reached $14 million per MW due to supply chain issues and inflation. The company processed a $359 million change order for labor and materials, expenses it is splitting with a tenant AI lab. Beyond current construction, the firm is targeting "behind-the-meter" power expansion at the same site to unlock 2.5 GW of additional potential.
Wednesday, October 21, 2026
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Cipher Digital’s $1B Zero-Interest Note Plan Triggers 14% Stock Slide
US Markets7 days ago
The crypto-mining firm is securing new capital to fund the expansion of its energy-heavy data center portfolio. Cipher Digital proposes raising between $850 million and $1 billion through 0% convertible notes due 2032 to accelerate its shift toward artificial intelligence facilities and ensure power access. Shares of the company fell by 14% following the announcement as investors assessed the risk of equity dilution and the company's capital requirements.
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