Cipher Mining plans to raise $2 billion through a senior secured note issuance.

According to Mars Finance, Nasdaq-listed Bitcoin mining company Cipher Mining announced plans to issue senior secured notes to qualified institutional investors, raising a total of $2 billion, depending on market conditions and other factors. The guarantors for this offering are Cipher Black Pearl and 11786 Wink LLC. The net proceeds will reportedly be used to pay for the remaining construction costs of its high-performance computing data center in Wink, Texas, to fund debt service reserves, and to cover related expenses and costs.