Cipher Mining rebrands as Cipher Digital, transitioning from a Bitcoin mining company to HPC infrastructure

CoinNetwork · 2026-02-24T13:27:47+00:00

Cipher Mining's revenue in the fourth quarter was $60 million, below expectations, and the stock price dropped 5% in pre-market trading. The company is transitioning to high-performance computing infrastructure, securing a signed capacity of 600 MW, and raising $3.73 billion for data center construction.

CoinNetwork

2026-02-24 13:27:47

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Crypto World News, February 24: After the original Bitcoin mining company Cipher Mining announced its Q4 earnings report, it rebranded as Cipher Digital, with its stock price dropping about 5% in pre-market trading. The company reported Q4 revenue of $60 million, below analysts’ expectations of $84.4 million; adjusted loss per share of $0.14, higher than the expected loss of $0.06; quarterly adjusted net loss of $55 million. Management described 2025 as a year of transformation, as the company shifts from Bitcoin mining to high-performance computing infrastructure. This quarter, Cipher secured 600 MW of contracted capacity, including a 300 MW, 15-year lease with Amazon Web Services, and a 300 MW, 10-year lease with Fluidstack and Google. The company raised $3.73 billion through three priority secured bond issuances to fund the construction of the Barber Lake and Black Pearl data centers. Cipher also sold approximately $40 million worth of stock to acquire a 49% stake in three mining joint ventures, streamlining its structure to focus on data center-centric business transformation.

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