Use of Net Proceeds from Senior Secured Notes
Company: Cipher Mining - Project: Stingray Facility
The claim, verbatim
Net proceeds will finance remaining costs of Stingray Facility construction, reimburse approximately $61.5 million in prior equity contributions for facility capital expenditures, and fund debt service reserves
Source (primary)
Cipher Mining 8-K filed 2026-06-15 (SEC EDGAR, sec_filing)
View cached copy (2026-08-30)Live source ↗
Quote: “Stingray Compute intends to use the net proceeds from the offering to (1) finance the remaining cost of the Stingray Facility, a high performance computing data center in Andrews, Texas (the "Stingray Facility"), (2) reimburse the Company for approximately $61.5 million of prior equity contributions to Cipher Stingray used to fund capital expenditures relating to the Stingray Facility and (3) fund debt service reserves”
How we checked this
Additional evidence
confirms Cipher Mining 8-K filed 2026-06-15
Quote: “Stingray Compute intends to use the net proceeds from the offering to (1) finance the remaining cost of the Stingray Facility, a high performance computing data center in Andrews, Texas (the "Stingray Facility"), (2) reimburse the Company for approximately $61.5 million of prior equity contributions to Cipher Stingray used to fund capital expenditures relating to the Stingray Facility and (3) fund debt service reserves”