ConvertibleActive
0% Convertible Notes due 2031
CIFR-Oct31
BTC Holdings
1,433 BTC
Total Debt
$5.21B
Leverage
4488.6%
mNAV
65.64x
Outstanding
$1.30B
Insufficient history
Issue date
2025-09-30
Principal
$1.30B
Coupon
0.00%
Maturity
2031-10-01
Conversion price
$16.03
Terms & Documentation
Terms
- BTC strategy
- No
- Ranking
- Senior unsecured
- Settlement
- Issuer election
- Payment frequency
- None (zero coupon)
- Rate type
- Fixed
- Forced conversion
- On or after Oct 5, 2028 if stock >= 130% of conversion price for 20 of 30 consecutive trading days; min $100M outstanding required
- Put provision
- At 100% of principal plus accrued interest upon fundamental change
- Use of proceeds
- Capped call transactions (~$70M), Barber Lake data center construction, HPC buildout, pipeline expansion, general corporate purposes
- Capped call
- Approximately $70M used for capped call transactions
Sources(1)
- Form 8-K (0% convertible …FilingForm 8-K (0% convertible notes issuance)Item 1.01Cipher Mining Inc. — 2025-10-01
Outstanding History
Outstanding history(1)
| As of | Event | Outstanding | Source |
|---|---|---|---|
| 2025-09-30 | Issuance | $1.30B Includes $200M overallotment exercised in full | Form 8-K (0% convertible … |
- 2025-09-30 — $1,300,000,000Item 1.01 — filing — Cipher Mining Inc.Source