Cipher Digital plans to issue $850 million in convertible bonds to raise funds for its data center projects.

Nasdaq-listed crypto/blockchain firm Cipher Digital (CIFR) plans to raise $850 million by issuing zero-coupon convertible notes to support its Barber Lake project and expand its high-performance computing (HPC) data center business. In an October 13 announcement, the company said the private placement could be upsized to up to $1 billion if initial purchasers exercise their option to buy an additional $150 million in notes. Additionally, Cipher plans to exchange some of its existing convertible

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