Cipher Mining Inc.
Cipher Mining Inc. Issues Convertible Senior Notes and Enters Capped Call Transactions
Summary
Cipher Mining Inc. issued $1,300,000,000 aggregate principal amount of 0.00% Convertible Senior Notes due 2031, governed by an indenture with U.S. Bank Trust Company, National Association. The issuance included a 13-day option for initial purchasers to buy an additional $200,000,000 aggregate principal amount of Notes. Additionally, the company entered into capped call transactions to mitigate dilution from the conversion of these Notes. The Notes were issued in reliance on Section 4(a)(2) of the Securities Act of 1933 and were sold to qualified institutional buyers under Rule 144A. Exhibits include the Indenture, form of certificate for the Notes, and form of confirmation for the Capped Call Transactions.
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About Cipher Mining Inc.
Cipher Mining Inc. operates as a cryptocurrency mining company with a focus on sustainable bitcoin mining operations. Its primary function lies in the efficient and large-scale mining of bitcoin, offering infrastructure and expertise to maximize the value and support transaction processing within the Bitcoin network. Cipher Mining uniquely positions itself in the fast-evolving digital currency landscape by emphasizing sustainability, utilizing renewable energy sources to power its operations, which addresses the growing concerns around the environmental impact of cryptocurrency mining. This approach not only helps in reducing carbon footprints but also sets a scalable model as the demand for cryptocurrencies evolves. The company's mining facilities are strategically located to optimize energy consumption and cost efficiencies, aligning with its commitment to environmentally responsible practices. As part of the larger cryptocurrency and blockchain sectors, Cipher Mining plays a crucial role in facilitating transactions and securing the blockchain, thereby integral to the infrastructure that supports digital currency ecosystems globally. Founded with a vision to merge traditional energy expertise with cutting-edge digital finance solutions, Cipher Mining accentuates the intersection of innovation and sustainability in the financial markets.
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