Oct 24, 2026
Oct 24, 2026
Oct 24, 2026
Oct 24, 2026
Oct 24, 2026
Oct 24, 2026
Oct 24, 2026
Oct 24, 2026
Cipher Mining closed an $850 million zero-coupon convertible exchange to fund data-center buildout, and the deal enlarged the share base at the same time. Miner equities have been cut roughly in half, and the market is treating the debt as a solvency question when it's really a duration and dilution question. Here's who pays, who gets paid, and what to watch next.