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← Cipher Digital
Thu, Jan 30, 2025

Cipher Mining announces $50 million PIPE investment from SoftBank

Source document ↗

Key points

  • SoftBank, through wholly owned subsidiary Star Beacon LLC, purchased approximately 10,438,413 newly issued shares of common stock at $4.79 per share for approximately $50 million
  • PIPE transaction completed on the issuance date, January 30, 2025
  • Investment to support Cipher's HPC data center development business and establish SoftBank as a significant primary investor
  • Cipher agreed not to enter binding documentation to sell or encumber its Barber Lake property with any party other than SoftBank prior to February 28, 2025
  • Registration rights agreement requires Cipher to file a shelf registration statement for the shares