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Google (GOOGL) Backstops Cipher Lease as Cipher Shares Soar then Tumble on Convertible Deal

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The Story

News Summary

  • Cipher Mining upsized a $1.1B convertible note offering to fund its Barber Lake facility after a $3B hosting deal with Fluidstack; Google agreed to backstop $1.4B of lease obligations and holds warrants equal to 5.4% of Cipher, sparking volatile share swings.
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GOOGL price history

342.87 +7.36% over the displayed period

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