Cipher Mining has successfully raised $1.4 billion through high-yield bonds to finance the construction of a data center associated with Google. The company's subsidiary issued 5-year senior secured notes with a 7.125% yield, which are non-callable for the first two years. Morgan Stanley acted as the sole lead underwriter for the issuance. This strategic move marks Cipher's transition from Bitcoin mining to data center operations, a shift driven by the increasing demand for AI computing power. The funds will be allocated to building a new facility near Barber Lake, Colorado City, Texas, as part of this expansion effort.