Signs New 15-Year Data Center Campus Lease with Hyperscale Tenant
Secures Revolving Credit Facility of Up To $200 Million Supported by Syndicate of Leading Global Financial Institutions
NEW YORK, March 25, 2026 (GLOBE NEWSWIRE) -- Cipher Digital Inc. (NASDAQ:CIFR) ("Cipher" or the "Company"), a leading developer, owner, and operator of industrial-scale data centers, is pleased to provide the following business updates:
New Data Center Campus Lease
Cipher today announces the execution of its third data center campus lease. This agreement is for an initial term of 15 years with an investment-grade Hyperscale tenant. Under the terms of the agreement, Cipher will develop and deliver a new HPC data center at one of its existing sites.
"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 Tyler Page, Chief Executive Officer.
Revolving Credit Facility
Cipher today also announces the closing of a revolving credit facility (the "Facility"). The Facility provides for up to $200 million of committed capacity with an additional accordion option of up to $50 million. Proceeds from the Facility will be used to enhance liquidity, support working capital, and fund growth initiatives. The Facility has a scheduled maturity of March 2030 and bears interest at the Secured Overnight Financing Rate (SOFR) plus 1.25% to 1.75%, subject to step-down pricing based on the Company's total debt to market capitalization ratio. The Facility was undrawn at close.
"This transaction marks Cipher's first syndicated revolving credit facility and represents a major step in the evolution of our capital structure," said Greg Mumford, Chief Financial Officer. "We believe this facility highlights the continued strength and maturation of our business, as well as the growing confidence in our long-term strategy from premier financial institutions. This facility provides non-dilutive capital with enhanced flexibility as we continue to scale the business as a leading HPC data center platform."
Morgan Stanley serves as Administrative Agent and acted as Lead Arranger and Lead Bookrunner. The syndicate also includes Banco Santander, Goldman Sachs, JPMorgan Chase, Sumitomo Mitsui Banking Corporation, and Wells Fargo.
About Cipher
Cipher develops and operates industrial-scale data centers engineered for next-generation computing at the highest standards of innovation, precision, and excellence. The Company brings together deep expertise across power sourcing, construction, engineering, operations, real estate, and technology to deliver high-quality data centers purpose built for HPC workloads. By partnering with premier tenants, Cipher seeks to meet the growing demand for industrial-scale data center capacity and become a leading HPC development platform that is built for hyperscale. To learn more about Cipher, please visit https://www.cipherdigital.com/.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws of the United States. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Any statements made in this press release that are not statements of historical fact, such as statements about the expected benefits of the Facility, the Company's use of proceeds from borrowings under the Facility, the impact of the Facility on the Company's liquidity and financial flexibility, the Company's beliefs and expectations regarding its planned business model and strategy, timing and likelihood of success, capacity, functionality and operation of its data centers, expectations regarding its data center development and operations, potential strategic initiatives, and management plans and objectives, are forward-looking statements and should be evaluated as such. These forward-looking statements generally are identified by the words "may," "will," "should," "expects," "plans," "anticipates," "could," "seeks," "intends," "targets," "projects," "contemplates," "believes," "estimates," "strategy," "future," "forecasts," "opportunity," "predicts," "potential," "would," "will likely result," "continue," and similar expressions (including the negative versions of such words or expressions).
These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Cipher and its management, are inherently uncertain. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: volatility in the price of Cipher's securities due to a variety of factors, including changes in the competitive and regulated industry in which Cipher operates, Cipher's evolving business model and strategy and efforts it may make to modify aspects of its business model or engage in various strategic initiatives, variations in performance across competitors, changes in laws and regulations affecting Cipher's business, and the ability to implement business plans, forecasts, and other expectations and to identify and realize additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of Cipher's Annual Report on Form 10-K for the fiscal year ended December 31, 2025 filed with the Securities and Exchange Commission ("SEC") on February 24, 2026 and in Cipher's subsequent filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Cipher assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
Website Disclosure
The company maintains a dedicated investor website at https://investors.cipherdigital.com/ ("Investors' Website"). Financial and other important information regarding the Company is routinely posted on and accessible through the Investors' Website. Cipher uses its Investors' Website as a distribution channel of material information about the Company, including through press releases, investor presentations, reports and notices of upcoming events. Cipher intends to utilize its Investors' Website as a channel of distribution to reach public investors and as a means of disclosing material non-public information for complying with disclosure obligations under Regulation FD. In addition, you may sign up to automatically receive email alerts and other information about the Company by visiting the "Email Alerts" option under the Investor Resources section of Cipher's Investors' Website and submitting your email address.
Contacts:
Investor Contacts:
Courtney Knight
Head of Investor Relations at Cipher Digital
[email protected]
Drew Armstrong
Head of Strategic Initiatives at Cipher Digital
[email protected]
Media Contact:
Ryan Dicovitsky
Dukas Linden Public Relations
[email protected]
