Cipher Mining 定价 11 亿美元增发可转换债券
收益旨在支持 Barber Lake 项目建设、HPC 扩展以及通过限价认购交易减少股票稀释。

需要了解的:
- 该公司发行了面值11亿美元、零息的2031年到期可转换优先债券,规模由8亿美元上调,初始转换价格为每股16.03美元(溢价37.5%)。
- 约10.8亿美元的净收益将用于资金上限认购交易、Barber Lake建设及Cipher 2.4GW高性能计算项目的扩展。
Cipher 采矿(CIFR)定价一笔10.8亿美元的0.00%可转换高级债券私募发行,该债券于2031年到期,较最初的8亿美元规模有所扩大。
该票据为高级无担保债务,初始转换价格为每股16.03美元,较周四11.66美元收盘价溢价37.5%。投资者可在2029年按面值要求回售,而Cipher可在2028年开始赎回,条件是股价较转换价格上涨30%以上。
净收益 10.8 亿美元将用于有上限的看涨期权交易、Barber Lake 数据中心建设以及其 2.4 吉瓦高性能计算项目管线的扩展。
此次融资正值Cipher 昨日成功获得 与 Google 及 Fluidstack 签署了一项价值 30 亿美元的 AI 托管协议。
CIFR 股价周四大幅下跌,最大跌幅达17%,在盘前交易中进一步下跌1%,报11.55美元。
周四股价的下跌可能是由参与可转换债券交易的银行进行的对冲操作所致,通常在短期内会对股价施加压力,因为交易对手方需要管理其风险敞口。在Strategy 和 过去的可转换债券发行后也曾出现过类似的价格波动。Semler Scientific.
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KuCoin Hits Record Market Share as 2025 Volumes Outpace Crypto Market

KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
需要了解的:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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以下是截至目前因英伟达20亿美元投资CoreWeave而在比特币挖矿领域的赢家与输家

英伟达与 CoreWeave 加深合作,增加比特币矿工转向人工智能基础设施的压力。
What to know:
- 大多数将业务计划转向人工智能基础设施的比特币矿商股价在英伟达宣布对 CoreWeave 进行新一轮 20 亿美元投资后下跌。
- 一位分析师表示,英伟达与 CoreWeave 日益深化的合作关系可能会转移 GPU 资源和资金,导致那些试图转型进入人工智能和高性能计算领域的独立矿工受到影响。
- Core Scientific,CoreWeave 曾尝试但未能在 2025 年收购的公司,是周一唯一实现收益的矿工。











