Cipher Mining Secures $810 Million for Stingray Facility
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Cipher Mining ( (CIFR) ) just unveiled an update.
On June 15, 2026, Cipher’s indirect subsidiary Stingray Compute LLC completed a private offering of $810 million of 6.000% Senior Secured Notes due 2031, sold at 99.750% of par to institutional and non-U.S. investors under Rule 144A and Regulation S. The notes, guaranteed by Cipher Stingray LLC and governed by an indenture with Wilmington Trust as trustee, carry semiannual interest payments starting December 15, 2026, and mature June 15, 2031, with principal amortizing semiannually after the project’s Final Commencement Date to maintain a target debt service coverage ratio.
Proceeds are designated to fund remaining construction costs for the Stingray high performance computing facility in Andrews, Texas, reimburse about $61.5 million of prior equity contributions for that project, and establish debt service reserves. The notes are secured and subject to restrictive covenants on additional indebtedness, dividends, investments, liens, asset sales, sale-leasebacks, non-Stingray operations, affiliate transactions, and major corporate changes, while Cipher has provided a completion guarantee to ensure the data center’s timely delivery, tightening creditor protections and underlining the strategic importance of the Stingray Facility to the company’s growth plans.
The most recent analyst rating on (CIFR) stock is a Buy
with a $32.00 price target.
To see the full list of analyst forecasts on Cipher Mining stock,
see the CIFR Stock Forecast page.
Spark’s Take on CIFR Stock
According to Spark, TipRanks’ AI Analyst, CIFR is a Neutral.
The score is held back primarily by weak financial performance—extreme losses, compressed margins, and persistent negative operating/free cash flow. Partially offsetting this are strong technical uptrend signals and a constructive earnings-call outlook supported by contracted revenue visibility and financing/execution milestones. Valuation is mixed due to loss-driven negative P/E and lack of dividend support, while recent financing events are mildly supportive but increase leverage.
To see Spark’s full report on CIFR stock,
click here.
More about Cipher Mining
Cipher Digital Inc., through its wholly owned subsidiaries Stingray Compute LLC and Cipher Stingray LLC, operates in the high performance computing and data center infrastructure space. The company is developing the Stingray Facility, a high performance computing data center in Andrews, Texas, positioning itself to serve growing demand for advanced compute capacity.
Average Trading Volume: 25,120,623
Technical Sentiment Signal: Buy
Current Market Cap: $10.02B
See more data about CIFR stock on TipRanks’ Stock Analysis page.
