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
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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”