Cryptocurrency mining company Cipher Mining plans to issue junk bonds to raise billions, and its stock price surged nearly 20% in response
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Cipher Mining plans to issue junk bonds to raise billions of dollars to expand data center capacity, with its stock price rising nearly 20%. The company is following in the footsteps of TeraWulf, which recently successfully raised $3.2 billion. This bond issuance is led by Morgan Stanley, with Google providing guarantees for the debt. The data center industry is in urgent need of expansion due to the surge in demand for artificial intelligence, and many cryptocurrency mining companies are also turning to data center operations
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