Google "backs", Cipher Mining increases convertible debt package to 1.1 billion USD

The Bitcoin mining company #CipherMining (CIFR) has raised the value of its convertible bond package from 800 million USD to 1.1 billion USD, following the announcement of a 3 billion USD AI computing agreement backed by Google.

According to the announcement, Cipher has signed a 10-year contract with Fluidstack, providing 168 MW of high computing power at its facility in Texas. Notably, #Google will guarantee 1.4 billion USD of Fluidstack's lease obligations, in return for receiving the right to purchase 24 million shares of Cipher, equivalent to 5.4% ownership.

This information has helped CIFR's stock on the Nasdaq rise nearly 5%, to about 12.20 USD/share. This is a recovery after previous strong fluctuations, indicating that investors are regaining confidence in the model that combines Bitcoin mining and AI infrastructure.

This event reflects a new trend in the crypto mining industry, as many companies are leveraging their massive computing infrastructure to diversify into the AI sector, where demand is booming.

⚠️ Risk warning: The crypto market and stocks related to Bitcoin mining are subject to high volatility. Investors should carefully consider before participating. #anh_ba_cong