Cipher raises $850M in convertibles to cover Barber Lake overrun bill

Cipher Digital (CIFR) said on October 13 that it intends to sell $850 million of zero-coupon convertible notes due in 2032. The financing is aimed mainly at covering roughly $359.3 million in cost overruns at its Barber Lake data center. The company agreed three weeks earlier to absorb that bill. The notes pay no interest, part of Cipher's effort to bridge an infrastructure funding gap.