{"id":93894,"date":"2026-02-03T22:15:24","date_gmt":"2026-02-03T19:15:24","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=93894"},"modified":"2026-02-04T18:18:49","modified_gmt":"2026-02-04T15:18:49","slug":"cipher-mining-to-raise-2bn-to-expand-ai-computing","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/cipher-mining-to-raise-2bn-to-expand-ai-computing\/","title":{"rendered":"Bitcoin Miner Cipher Mining to Raise $2 Billion for AI Computing Expansion"},"content":{"rendered":"<p>Black Pearl, a subsidiary of bitcoin miner Cipher Mining, will conduct a private placement of $2bn in senior notes due 2031.<\/p>\n<p>The issuer will use the proceeds to complete a data centre focused on high-performance computing (HPC) services in Wink, Texas.<\/p>\n<p>The capital will also allow Cipher to reimburse about $232.5m previously advanced to the subsidiary from its own funds under a credit facility.<\/p>\n<p>The miner is guaranteeing the debt obligations of its wholly owned Black Pearl.<\/p>\n<p>In December 2023 Cipher <a href=\"https:\/\/investors.ciphermining.com\/news-releases\/news-release-details\/cipher-mining-announces-closing-its-acquisition-black-pearl\">closed<\/a> the purchase of the site for Black Pearl, with initial interconnection capacity of up to 300MW. In June 2025 the company <a href=\"https:\/\/investors.ciphermining.com\/news-releases\/news-release-details\/cipher-mining-commences-bitcoin-mining-black-pearl-data-center\">commissioned<\/a> the facility for bitcoin mining. The plant delivered ~2.5EH\/s on 150MW. It planned to scale by replacing older rigs with newer ones, including <a href=\"https:\/\/forklog.com\/en\/news\/canaan-expands-bitcoin-miner-production-in-the-us\">Avalon A15Pro by Canaan<\/a>.<\/p>\n<p>At that time Cipher operated five data centres with total capacity of 2.6GW.<\/p>\n<p>In the second half, the company broadened its diversification into AI. In September the firm leased a <span data-descr=\"data centre\" class=\"old_tooltip\">data centre<\/span> in Colorado City (Texas) to UK startup Fluidstack. Google helped broker the deal, <a href=\"https:\/\/forklog.com\/en\/news\/google-acquires-stake-in-cipher-mining\">taking a stake in Cipher<\/a> in return for $1.4bn in guarantees.<\/p>\n<p>In November the miner signed a lease agreement with Amazon Web Services <a href=\"https:\/\/forklog.com\/en\/news\/cipher-mining-secures-5-5-billion-ai-hosting-deal-with-aws\">worth $5.5bn<\/a> to support HPC services.<\/p>\n<p>According to <a href=\"https:\/\/bitcoinminingstock.io\/hashrate\">BitcoinMiningStock<\/a>, Cipher has a deployed bitcoin hash rate of 23.6EH\/s \u2014 the seventh-highest among public companies in the industry. Over the past 12 months the firm has increased its crypto-mining capacity by roughly 1.5 times.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"367\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-29363076275890b7-5360072890738901-1024x367.jpeg\" alt=\"image\" class=\"wp-image-274543\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-29363076275890b7-5360072890738901-1024x367.jpeg 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-29363076275890b7-5360072890738901-300x108.jpeg 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-29363076275890b7-5360072890738901-768x275.jpeg 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-29363076275890b7-5360072890738901.jpeg 1077w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: BitcoinMiningStock.<\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\">TeraWulf to add 1.5GW of AI capacity<\/h2>\n<p>Bitcoin miner TeraWulf is buying two sites in Hausville (Kentucky) and Charles County (Maryland) that could add 1.5GW to the company\u2019s power portfolio. The combined figure would reach 2.8GW.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">TeraWulf just expanded its development pipeline in a big way with strategic infrastructure acquisitions in Kentucky and Maryland.<\/p>\n<p>Here\u2019s what you need to know.<\/p>\n<p>\u2014 TeraWulf (@TeraWulfInc) <a href=\"https:\/\/twitter.com\/TeraWulfInc\/status\/2018434563173994581?ref_src=twsrc%5Etfw\">February 2, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In Kentucky the plan centres on an industrial site with:<\/p>\n<ul class=\"wp-block-list\">\n<li>access to developed power infrastructure;<\/li>\n<li>480MW of connected capacity;<\/li>\n<li>room for further expansion.<\/li>\n<\/ul>\n<p>The site is several hundred kilometres from Midwest metro areas, making it suitable for latency-sensitive workloads such as HPC, the company said.<\/p>\n<p>In Maryland TeraWulf is buying an operating power plant producing 210MW. An initial refurbishment phase will lift output to 500MW, with a longer-term goal of 1GW. The firm added that higher load will be paired with expanded battery-storage capacity to ensure uninterrupted power supply.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe proximity of the site to the Washington metropolitan region and other Mid-Atlantic markets increases its attractiveness for resource-intensive computing tasks, where scale and reliability are valued,\u201d the company said.<\/p>\n<\/blockquote>\n<p>In August 2025 Google <a href=\"https:\/\/forklog.com\/en\/news\/google-becomes-largest-shareholder-in-bitcoin-miner-terawulf\">increased its stake<\/a> in TeraWulf to 14% by expanding financial guarantees for the <a href=\"https:\/\/forklog.com\/en\/news\/terawulf-and-fluidstack-launch-ambitious-ai-project-with-googles-backing\">deal<\/a> between the miner and Fluidstack.<\/p>\n<p>In September TeraWulf announced <a href=\"https:\/\/forklog.com\/en\/news\/terawulf-to-raise-3-billion-with-morgan-stanleys-assistance\">raising $3bn<\/a> through a Google-backed structure, with proceeds earmarked for data-centre construction.<\/p>\n<p>TeraWulf\u2019s installed hash rate is 8.5EH\/s, up about 16.5% over the year.<\/p>\n<p>In January, Bit Digital said it would <a href=\"https:\/\/forklog.com\/en\/news\/bit-digital-shifts-focus-from-bitcoin-mining-to-ai-and-ethereum\">exit crypto mining<\/a> entirely and focus on AI-related strategies and investments in Ethereum.<\/p>\n<p>Back in November, Bitfarms announced a gradual <a href=\"https:\/\/forklog.com\/en\/news\/bitfarms-reports-46-million-loss-and-shift-from-mining-to-ai\">exit from the industry<\/a> and a pivot to AI infrastructure.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Black Pearl, a Cipher Mining subsidiary, will privately place $2bn of senior notes due 2031.<\/p>\n","protected":false},"author":1,"featured_media":93895,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Cipher unit to raise $2bn in notes for an AI-focused data centre.","creation_source":"ai_translated","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[438,1137],"class_list":["post-93894","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-artificial-intelligence","tag-cryptocurrency-mining"],"aioseo_notices":[],"amp_enabled":true,"views":"206","promo_type":"1","layout_type":"1","short_excerpt":"Cipher unit to raise $2bn in notes for an AI-focused data centre.","is_update":"0","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/93894","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=93894"}],"version-history":[{"count":2,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/93894\/revisions"}],"predecessor-version":[{"id":93940,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/93894\/revisions\/93940"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/93895"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=93894"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=93894"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=93894"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}