Cipher Mining Secures $50 Million Investment from SoftBank Group

Cipher Mining Inc. (NASDAQ: CIFR) has announced a $50 million PIPE investment from SoftBank Group Corp. (TSE: 9984), marking a significant boost to its high-performance computing (HPC) data center initiatives. The investment makes SoftBank a key investor in Cipher’s expansion efforts.

Tyler Page, CEO of Cipher Mining, emphasized the strategic importance of this funding, stating,

“We are thrilled to welcome SoftBank as an important investor. This investment is pivotal in Cipher’s growth as we expand our industrial-scale data center operations. SoftBank’s commitment to technology and AI innovation aligns with our vision to lead in HPC data center development.”

SoftBank is acquiring around 10.4 million common stock shares issued by Cipher as part of the deal. The money will be used in Cipher’s efforts to build more data centers, expand Bitcoin mining, and offer HPC hosting services.

Keefe, Bruyette & Woods Inc. acted as a financial advisor, while Latham & Watkins LLP acted as legal counsel for the transaction.

In November 2024, Cipher announced that it was building its Stingray site, a 100-megawatt facility, as part of the effort to fortify its infrastructure. This investment further solidifies Cipher’s leadership in industrial-scale data center operations.

About Cipher Mining:

Cipher Mining is dedicated to developing industrial-scale data centers for Bitcoin mining and HPC hosting. It strives to be an innovation leader, expanding its role in Bitcoin mining infrastructure and data center solutions.