Cipher Digital Inc. (NASDAQ:CIFR) announced a 15‑year lease with a leading hyperscale tenant to develop a new high‑performance computing (HPC) data‑center campus at one of its existing sites. The lease, Cipher’s third campus deal, provides a stable, long‑term revenue stream that underpins the company’s pivot from Bitcoin mining to AI infrastructure.
The company also closed a $200 million revolving credit facility, with an optional $50 million accordion. Morgan Stanley led the arrangement, with participation from Goldman Sachs, JPMorgan Chase, Wells Fargo, Banco Santander, and Sumitomo Mitsui Banking Corporation. The facility matures in March 2030, bears interest at SOFR plus 1.25% to 1.75%, and was undrawn at close. Proceeds will be used to enhance liquidity, support working capital, and fund construction of the new HPC campus.
Cipher’s strategic shift began with a rebranding from Cipher Mining Inc. to Cipher Digital Inc. in February 2026, reflecting its focus on AI and HPC data centers. The company’s development pipeline is now 3.4 GW, with 3.2 GW prioritized for HPC workloads, a significant expansion from its previous Bitcoin‑mining operations.
Management highlighted the significance of the deal. CEO Tyler Page said, "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." CFO Greg Mumford added, "This transaction marks Cipher's first syndicated revolving credit facility and represents a major step in the evolution of our capital structure. 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."
The lease and credit facility together strengthen Cipher’s balance sheet and provide the financial flexibility needed to accelerate its 3.2 GW pipeline. The long‑term tenant agreement delivers predictable revenue, while the revolving credit line offers liquidity for capital expenditures and working‑capital needs, positioning Cipher as a key partner for hyperscale AI workloads and reinforcing investor confidence in its strategic transformation.
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