Cipher Digital (CIFR) shares jumped 9% in pre-market trading after the company, formerly a bitcoin miner, announced a new long-term>rebranded from Cipher Mining in February, revealed a 15-year lease agreement with an investment-grade hyperscale tenant for its third data center campus. Cipher will develop a high-performance computing facility at an existing site, strengthening its position as a partner to large technology firms building AI infrastructure.
The company renamed itself to reflect a strategic pivot away from bitcoin production toward the development of industrial-scale data centers for artificial intelligence and cloud workloads. The move aligns the company with the rapidly growing demand for high-performance computing capacity.
The revolving credit facility has an additional $50 million accordion option. Backed by a syndicate of leading global banks, the facility provides non-dilutive capital to support expansion, boost liquidity, and fund future growth initiatives.