Cipher Digital Inc. (NASDAQ:CIFR) announced it has signed a 15-year lease agreement for a data center campus with an investment-grade hyperscale tenant and arranged a $200 million revolving credit facility.
The agreement represents Cipher’s third contract for a data center campus. As part of the deal, the company will construct and deliver a new high-performance computing facility at one of its existing locations. Financial terms of the lease and the identity of the tenant were not disclosed.
The newly secured revolving credit facility provides up to $200 million in committed funding, along with an accordion feature that could increase capacity by an additional $50 million. The facility matures in March 2030 and carries interest based on the Secured Overnight Financing Rate plus 1.25% to 1.75%, with pricing adjustments tied to the company’s total debt-to-market-capitalization ratio. The credit line was undrawn at the time of closing.
Cipher said the facility will help strengthen its liquidity position while supporting working capital needs and future expansion plans. The financing marks the company’s first syndicated revolving credit arrangement.
Morgan Stanley acted as administrative agent and lead arranger for the transaction. The lending syndicate also includes Banco Santander, Goldman Sachs, JPMorgan Chase, Sumitomo Mitsui Banking Corporation, and Wells Fargo.
Cipher develops and operates large-scale data centers designed for high-performance computing applications and works with hyperscale clients seeking additional capacity for advanced computing workloads.