---
title: "Cryptocurrency mining company Cipher Mining plans to issue junk bonds to raise billions, and its stock price surged nearly 20% in response"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/262694674.md"
description: "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"
datetime: "2025-10-24T23:56:02.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/262694674.md)
  - [en](https://longbridge.com/en/news/262694674.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/262694674.md)
---

> 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/262694674.md) | [English](https://longbridge.com/en/news/262694674.md)


# Cryptocurrency mining company Cipher Mining plans to issue junk bonds to raise billions, and its stock price surged nearly 20% in response

According to Zhitong Finance APP, Cipher Mining (CIFR.US) plans to issue junk bonds to raise billions of dollars to expand its data center capacity. The company's move follows that of TeraWulf (WULF.US), which recently raised $3.2 billion.

On Friday, Cipher Mining's stock price surged over 20% at one point, ultimately closing up 19.73%.

Insiders say that, similar to TeraWulf's deal, Cipher Mining's junk bonds will also be backed by Google, a subsidiary of Alphabet (GOOGL.US).

Last week, TeraWulf issued $3.2 billion in junk bonds to expand a data center. It is the first cryptocurrency mining company to raise funds through junk bonds (i.e., bonds rated below investment grade) instead of relying on equity securities like convertible bonds.

This bond issuance also marks the largest junk bond offering led by a single Wall Street bank since the famous RJR Nabisco leveraged buyout in 1989. TeraWulf's bond issuance was led by Morgan Stanley, which is also assisting Cipher in advancing a similar bond issuance.

TeraWulf's bond issuance received over $11 billion in subscription orders. Investors were attracted by the "guarantee" provided by Google, which has agreed to back the debt once the related facilities are operational.

Currently, the data center industry is eager to expand capacity to meet the surge in demand driven by the AI boom, and junk bonds are thus being used for data center financing. With the ongoing Bitcoin "halving" events, the difficulty of Bitcoin mining continues to increase (as the token approaches its self-imposed supply limit), and mining profits are declining, leading many cryptocurrency mining companies to shift towards data center operations

### 相關股票

- [Cipher Digital (CIFR.US)](https://longbridge.com/zh-HK/quote/CIFR.US.md)
- [Morgan Stanley (MS.US)](https://longbridge.com/zh-HK/quote/MS.US.md)

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