According to CoinMeta, and as reported by The Energy Mag, the former Bitcoin mining company, now AI data center operator Cipher Digital ( NASDAQ : CIFR ), plans to issue $850 million in zero-coupon convertible preferred notes to qualified institutional investors, with maturity on November 1, 2032. The offering also includes an additional option for up to $150 million in subscriptions, bringing the potential total financing to $1 billion. The funds raised are intended for investment in Barber Lake projects, construction of new HPC data centers, and site expansion. Cipher Digital previously extended the contract period for the Barber Lake project to 20 years, increasing the cumulative contract revenue to over $9 billion. This financing round is not yet complete.