ConvertibleActive
0% Convertible Notes due 2031
CIFR-Oct31
$23.65▼ 3.82%
BTC Holdings
1,116 BTC
Total Debt
$5.21B
Leverage
5477.2%
mNAV
118.00x
Outstanding
$1.30B
Insufficient history
Issue date
2025-09-30
Principal
$1.30B
Coupon
0.00%
Maturity
2031-10-01
Conversion price
$16.03
ITM Status
ITM (+47.5%)
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 (~$82.7M), Barber Lake data center construction, HPC buildout, pipeline expansion, general corporate purposes
- Capped call
- Approximately $82.7 million used for capped call transactions
Outstanding History
Outstanding history(1)
| As of | Event | Outstanding |
|---|---|---|
| 2025-09-30 | Issuance | $1.30B Includes $200M overallotment exercised in full |
- 2025-09-30 — $1,300,000,000Item 1.01