Cipher Digital Locks In Third Hyperscale AI Lease, Secures $200M Credit Facility - Unchained

Cipher Digital, the former bitcoin mining firm that rebranded in February, just took another decisive step away from its crypto roots. The company announced a 15-year lease with an investment-grade hyperscale tenant to build a new high-performance computing data center at one of its existing sites — its third such deal as it positions itself as a go-to infrastructure partner for Big Tech’s AI ambitions.

Alongside the lease, Cipher secured a $200 million syndicated revolving credit facility with a $50 million accordion option, led by Morgan Stanley and backed by Goldman Sachs, JPMorgan Chase, Wells Fargo, Banco Santander, and Sumitomo Mitsui. The facility, which matures in March 2030 and was undrawn at close, gives the company significant dry powder to fund its buildout at favorable terms — SOFR plus 1.25% to 1.75% with step-down pricing tied to leverage.

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“This agreement for our third large AI campus reinforces Cipher’s position as a trusted partner to develop high-quality HPC data center infrastructure,” said CEO Tyler Page. CIFR shares jumped roughly 9% on the news, reflecting growing investor confidence that the pivot from proof-of-work to AI workloads is more than just a rebrand — it’s becoming a real business with Wall Street backing.