Characterizing regular covers of edge-transitive or arc-transitive graphs is currently a hot topic in algebraic graph theory. In this paper, we will classify arc-transitive regular cyclic covers of the complete bipartite graph $$\mathsf{K}_{p,p}$$Kp,p for each odd prime $$p$$p. The classification consists of four infinite families of graphs. In particular, such covers exist for each odd prime $$p$$p. The regular elementary abelian covers of $$\mathsf{K}_{p,p}$$Kp,p are considered in a sequel.
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