Cipher Digital Inc. (NASDAQ: CIFR) announced that its subsidiary Stingray Compute LLC has priced an $810.0 million offering of 6.000% senior secured notes due 2031 at 99.750% of principal amount. The net proceeds will finance the remaining costs of the Stingray data center facility, reimburse approximately $61.5 million in prior equity contributions, and fund debt service reserves. The offering is expected to close on June 15, 2026.

Cipher Digital Inc. (NASDAQ: CIFR), an industrial-scale data center developer and operator, announced its participation in four upcoming industry conferences in May and June 2026, including the Needham Technology Conference, Macquarie Asia Conference, Goldman Sachs Leveraged Finance Conference, and Citizens Digital Infrastructure Forum. CEO Tyler Page may be featured in discussions about the company's recent developments and growth strategy, with webcasts to be posted on the company's investor website.

Hut 8 and Cipher Digital stocks surged on strong AI data center lease announcements. Hut 8 signed a 15-year, $9.8 billion deal (potentially $25.1 billion with renewals) for 352 MW of AI capacity, while Cipher Digital signed its third AI data center campus lease with a hyperscale tenant. Both companies are pivoting from crypto mining to high-performance computing infrastructure, attracting investor interest in contracted capacity and long-duration AI revenue.

Cipher Digital stock surged 23.59% despite missing Q1 earnings and sales expectations. The company reported a loss of $0.28 per share on $34.84 million in sales, with revenue down 29% year-over-year. However, investors responded positively to the announcement of a new $200 million revolving credit facility, which will support the company's strategic pivot from cryptocurrency mining to AI infrastructure technologies.

Cipher Digital shares rose 8.44% following Q1 FY2026 results, driven by strong AI data center momentum. The company signed its third hyperscale tenant lease, secured a $200 million credit facility, and reported 907 MW of operating capacity with a 3.3 GW pipeline. However, the company posted a net loss of 28 cents per share and missed revenue expectations of $36.01 million with $34.84 million reported.

Over half of U.S. data center projects face delays or cancellations due to supply chain issues, making existing AI data center operators more valuable. Three companies with established infrastructure and energy security—IREN, Cipher Digital, and Nebius—are well-positioned to capitalize on this market consolidation through major contracts with tech giants.

Bitcoin has significantly underperformed AI stocks like Nvidia over the past five years, prompting Bitcoin miners to pivot toward AI computing. However, the article argues that Bitcoin's long-term potential could be enhanced through integration with AI agents making blockchain-powered micropayments, potentially making it as valuable as major AI companies. The author cautions that AI stocks may be in a bubble and suggests Bitcoin remains a better long-term investment despite recent underperformance.

The article recommends two undervalued stocks with strong long-term growth potential: Cipher Mining (CIFR), which addresses AI data center capacity shortages with long-term deals from Amazon and Alphabet, and SoFi Technologies (SOFI), a high-growth fintech company expanding into crypto trading with 13.7 million members and 37% year-over-year revenue growth.

The article argues that AI infrastructure 'pick-and-shovel' companies are better positioned than big tech firms to profit from the AI boom. With hyperscaler CAPEX spending projected to reach $515 billion in 2026, infrastructure providers like Nebius Group, IREN, Astera Labs, TeraWulf, and Cipher Mining offer stable revenues, high margins through GPU-as-a-Service models, and exposure to growing AI demand regardless of which AI platform wins.

The Bitwise Crypto Industry Innovators ETF (BITQ) is actually an AI-focused fund with eight of its top 10 holdings being crypto miners pivoting to AI infrastructure. While the fund is flat year-to-date and nearly tripled from trough to peak last year, its 0.85% expense ratio is excessive compared to index funds. The article suggests investors may be better off cherry-picking individual stocks from the fund rather than paying the high fees.

Cipher Mining Inc. (NASDAQ: CIFR) announced the pricing of $2.0 billion in 6.125% senior secured notes due 2031 to finance the completion of its Black Pearl high-performance computing data center in Wink, Texas, and reimburse prior equity contributions. The offering is expected to close on February 11, 2026.

Cipher Mining, a crypto miner turned AI infrastructure provider, is positioned to benefit from surging AI data center demand. The company has signed major long-term deals with tech giants like Amazon ($5.5B, 15-year deal) and Google-backed Fluidstack, and holds over 3 gigawatts in its pipeline. Recent EPA rulings against gas-powered competitors and projections of 30-fold growth in U.S. AI data center demand by 2035 present significant tailwinds for the company.