Cahill Represents Initial Purchasers in Black Pearl Compute LLC’s $2.0 Billion Notes Offering

February 11, 2026

Cahill represented the initial purchasers in connection with a Rule 144A offering of $2 billion aggregate principal amount of 6.125% senior secured notes due 2031 by Black Pearl Compute LLC.

Proceeds from the offering will be used to finance the construction of a high-performance computing data center in Wink, Texas.

Black Pearl Compute LLC is a wholly owned indirect subsidiary of Cipher Mining Inc., which develops, owns and operates industrial-scale digital infrastructure to support high-performance computing and bitcoin mining applications.