jain.com
The Analysis · Companies · People · Methodology

Amortization of Senior Secured Notes principal

Company: Cipher Mining - Project: Black Pearl Facility

Subject kind
financing
Statement date
2026-02-10
Promised amount
7.0 percent
Current status
stated

The claim, verbatim

Notes principal will amortize semiannually at an initial rate of 7.00% per annum of the original principal amount, beginning after all phases of Black Pearl Facility construction are completed

Source (primary)

Cipher Mining 8-K filed 2026-02-11 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗

Quote: “The principal amount of the notes will amortize on a semi-annual basis on February 15 and August 15 of each year in an initial amount equal to 7.00% per annum of the principal amount of the notes outstanding on the issue date... No amortization will be payable prior to the completion of all phases of construction of the Black Pearl Facility.”

How we checked this

Attempted on September 16, 2026. We could not read enough of the cited source to check this claim.

The verification run did not return a result for this claim (claude -p exit 1: b'').

What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1819989/000095010326001966/dp241421_8k.htm) in full (12,160 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.

Additional evidence

confirms Cipher Mining 8-K filed 2026-02-11

Quote: “The principal amount of the notes will amortize on a semi-annual basis on February 15 and August 15 of each year in an initial amount equal to 7.00% per annum of the principal amount of the notes outstanding on the issue date... No amortization will be payable prior to the completion of all phases of construction of the Black Pearl Facility.”

View cached copy (2026-08-31)Live source ↗