Cipher Mining Inc. (CIFR) witnessed a remarkable pre-market surge of 21.91% on Friday, driven by a $50 million investment from SoftBank Group, one of the world's leading investment holding companies.
The investment, structured as a private investment in public equity (PIPE) deal, will see SoftBank acquiring approximately 10.4 million shares of Cipher common stock. This strategic move aims to support Cipher's high-performance computing (HPC) data center development business, establishing SoftBank as a significant primary investor in the company.
Tyler Page, Cipher's CEO, expressed enthusiasm about the investment, stating that it comes at a pivotal moment in the company's growth trajectory. Cipher has been attracting attention for its pipeline of sites and innovative solutions in industrial-scale data centers, aligning with SoftBank's focus on innovation in technology and AI development.
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