Why Cipher Mining Stock Spiked 5% Overnight?
Cipher Mining Inc. (NASDAQ: CIFR) shares are trending on Friday.
Check out the current price of CIFR stock here.
Stock Jumps on Major Financial Moves
The shares of the blockchain mining company climbed 5.2% to $12.24 during after-hours trading on Thursday, following regular session gains of 17.72% . The data center operator announced two significant transactions totaling over $3.8 billion in potential value.
According to Benzinga Pro data, on Thursday, CIFR closed at $11.64.
$800 Million Convertible Notes Drive Capital Strategy
Cipher announced plans for an $800 million private offering of 0.00% convertible senior notes due 2031. The initial buyers of these notes have the option to purchase an additional $120 million worth within 13 days, potentially bringing the total raised amount to $920 million.
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The company plans to use the funds raised from the …
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