Cipher Digital Inc (NASDAQ:CIFR) shares are rising on Wednesday after announcing a 15-year data center campus lease.
The company also secured a revolving credit facility of up to $200 million with an investment-grade hyperscale tenant.
Expansion Into Data Center Infrastructure
Under its third campus lease, Cipher will develop and deliver a new HPC data center at an existing site.
The credit facility includes $200 million in committed capacity, with an additional $50 million accordion option, and is intended to support liquidity, working capital and growth initiatives.
The facility matures in March 2030, carries interest based on SOFR plus 1.25% to 1.75%, and was undrawn at closing.
Financing and Institutional Support
Morgan Stanley served as administrative agent, lead arranger, and bookrunner for the facility. The syndicate included Banco Santander, Goldman Sachs, JPMorgan Chase, Sumitomo Mitsui Banking Corporation, and Wells Fargo.
Cipher, a developer and operator of industrial-scale data centers, said the agreement marks its third large AI campus.
Leadership Commentary and Strategy
“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,” said CEO …