Cipher Mining(CIFR.US)2025 Fiscal Year Revenue Grows 48%, Raises $3.73 Billion to Bet on High-Performance Computing, Sells Mining Equipment Assets to Accelerate Transformation

Crypto Finance APP learns that Bitcoin mining company Cipher Mining (CIFR.US) released its latest financial report on Tuesday. The data shows that the company’s revenue for fiscal year 2025 reached $223.94 million, a 48% increase year-over-year, but still $25.7 million below expectations. Full-year non-GAAP net profit was $22.236 million, with earnings per share of $0.06, which is $0.28 lower than market expectations.

Notably, the company has officially renamed itself from Cipher Mining to Cipher Digital, highlighting a major strategic shift from Bitcoin mining to high-performance computing (HPC) data center development.

In terms of business layout, the company has successfully secured a total of 600 MW of HPC data center contract capacity, including two major leases: a 15-year, 300 MW lease with Amazon (AMZN.US) AWS, and a 10-year, 300 MW partnership agreement with Fluidstack and Google (GOOGL.US).

To support the construction of HPC data centers, the company has completed three rounds of bond issuance, raising a total of $3.73 billion. Cipher stated that current project progress is smooth: the Barber Lake data center project is advancing as planned, with about 95% of long-cycle equipment secured and all design milestones met; the Black Pearl data center project is also progressing on schedule, with engineering, procurement, and construction activities underway.

Additionally, to align with this new strategic direction, Cipher has sold its 49% stake in three joint ventures—Alborz LLC, Bear LLC, and Chief Mountain LLC—each with 40 MW capacity, as well as some Bitcoin mining machines previously deployed at Black Pearl. These non-core assets were acquired by Bitcoin miner and crypto infrastructure operator Canaan Inc. (CAN.US) in a full stock transaction valued at approximately $40 million. This deal allows Cipher to streamline its business structure, maintain a moderate presence in Bitcoin mining with a lightweight asset model, and accelerate its strategic transformation.

The company’s CEO, Mr. Page, stated: “2026 will be the year for Cipher’s strategic execution. We will fully advance our business transformation to build a leading digital infrastructure platform. As existing projects progress steadily, development project pipelines deepen and expand, and demand from capital providers and tenants continues to rise, we are committed to shaping Cipher Digital into a top-tier data center developer and operator that empowers the next generation of computing power.”