Cipher Digital announces strategic transformation, shifting from Bitcoin mining operations to high-performance computing data center business

Deep Tide TechFlow News, February 24, according to CoinDesk, Cipher Digital (formerly Cipher Mining) announced a strategic shift from Bitcoin mining to high-performance computing (HPC) data center business and rebranded as Cipher Digital. The company’s revenue for the fourth quarter was $60 million, below analyst expectations of $84.4 million; adjusted loss per share was $0.14, exceeding the expected $0.06 loss. The company has signed a 15-year, 300 MW lease with Amazon AWS, a 10-year, 300 MW lease with Fluidstack and Google, and raised $3.73 billion through three bond issuances to fund the construction of the Barber Lake and Black Pearl data center projects. Due to the performance, the stock price dropped about 5% in pre-market trading.

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