Cipher Digital Inc. (NASDAQ: CIFR) signed a 15-year data center campus lease with an investment-grade hyperscale tenant and secured a $200 million revolving credit facility, the company announced.

The lease agreement marks Cipher's third data center campus contract. Under the terms, Cipher will develop and deliver a new high-performance computing data center at one of its existing sites. The company did not disclose financial terms of the lease or identify the tenant.

The revolving credit facility provides up to $200 million of committed capacity with an additional accordion option of up to $50 million. The facility matures in March 2030 and carries interest at the Secured Overnight Financing Rate plus 1.25% to 1.75%, with step-down pricing based on the company's total debt to market capitalization ratio. The facility was undrawn at closing.

Cipher plans to use proceeds from the facility to enhance liquidity, support working capital, and fund growth initiatives. The transaction represents the company's first syndicated revolving credit facility.

Morgan Stanley served as administrative agent and lead arranger. The syndicate includes Banco Santander, Goldman Sachs, JPMorgan Chase, Sumitomo Mitsui Banking Corporation, and Wells Fargo.

Cipher develops and operates industrial-scale data centers for high-performance computing workloads. The company focuses on partnering with hyperscale tenants to meet demand for data center capacity.