en.Wedoany.com Reported - Cipher Digital, a company transitioning from a cryptocurrency miner to a high-performance computing data center developer, plans to issue $810 million in senior secured notes due in 2031.

Most of the proceeds from the issuance will be used to fund the remaining construction costs of the 100MW Stingray data center in West Texas; approximately $63.6 million will be used to repay Cipher's previous equity contributions to the project, with the remaining funds allocated to debt service reserves. Cipher has not yet disclosed the issuance timeline or expected interest rate for the notes.

The site is planned to provide 100MW of behind-the-meter capacity, covering 250 acres, located west of the city of Andrews in Andrews County. The company acquired the site early last year. In its annual 10-K filing, Cipher stated it expects to energize the site in the first half of this year.

The company's Barber Lake data center is fully pre-leased to Fluidstack and Google, and the upcoming Black Pearl site is pre-leased to Amazon Web Services; both projects were also financed through note issuances. Cipher's listed large-scale data center "pipeline" spans seven projects with a total capacity of up to 3.4GW, including the "Ulysses" project developed on 195 acres of land purchased in Ohio in January 2026, with the remaining sites all located in Texas. In June, details of plans to build a 500MW facility outside Waco, Texas, emerged.

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