Cipher Digital Inc. announced a 15-year data center campus lease with a hyperscale tenant and the closing of a revolving credit facility of up to $200 million.
The lease marks the company’s third data center campus agreement and includes development of a high-performance computing facility at an existing site.
“This agreement for our third large AI campus reinforces Cipher’s position as a trusted partner to develop high-quality HPC data center infrastructure for the world’s leading companies,” Tyler Page, CEO, said.
Cipher also secured a revolving credit facility with up to $200 million in committed capacity and an additional $50 million accordion feature. The facility, which matures in March 2030, will be used to support liquidity, working capital and growth initiatives.
“This transaction marks Cipher’s first syndicated revolving credit facility and represents a major step in the evolution of our capital structure,” Greg Mumford, CFO, said. “We believe this facility highlights the continued strength and maturation of our business, as well as the growing confidence in our long-term strategy from premier financial institutions. This facility provides non-dilutive capital with enhanced flexibility as we continue to scale the business as a leading HPC data center platform.”
Morgan Stanley served as administrative agent and lead arranger, with participation from Banco Santander, Goldman Sachs, JPMorgan Chase, Sumitomo Mitsui Banking Corporation and Wells Fargo.
