Markets
What you need to know:
- Cipher Digital missed analysts’ revenue and EPS predictions for Q4.
- It’s no longer Cipher Mining-hello, “we’re into high-performance computing now!”
- The shares fell 5% in pre-market. Probably the last thing they needed.
Cipher Digital (formerly Cipher Mining-remember those good old days?) reported a drop in shares of about 5% in premarket trading after unveiling its not-so-thrilling fourth-quarter results. Turns out, pivoting from bitcoin mining to high-performance computing (HPC) doesn’t automatically result in a financial windfall. Who knew? The company missed Wall Street’s expectations, posting fourth-quarter revenue of just $60 million, a disappointing number compared to the predicted $84.4 million. And let’s talk about earnings per share (EPS), or rather, the lack thereof: they reported a loss of $0.14, which is bigger than the forecasted $0.06 loss. Oops.
But wait, the fun doesn’t stop there. Cipher also posted an adjusted net loss of $55 million for the quarter, just in case you were thinking, “Maybe things aren’t so bad?” The company pointed to 2025 as its “transformative year.” Apparently, that’s when their high-performance computing dreams will come true-just in time for everyone to forget about bitcoin mining altogether.
And if you’re thinking, “Hey, they must have a plan,” well, kind of. Cipher secured 600 megawatts of contracted capacity during the quarter, including some sweet deals with Amazon Web Services (300 MW for 15 years) and Fluidstack/Google (another 300 MW for 10 years). No big deal, right? A mere couple of large-scale data center leases. They’re building something. Who needs profits when you can build a mega data center?
Oh, and Cipher raised $3.73 billion via three senior secured bond offerings. Apparently, this is enough to fund its Barber Lake and Black Pearl data center projects, which are totally still on schedule (cross your fingers). But, in case you missed it, Cipher also divested its 49% stake in three mining joint ventures for around $40 million in stock. Because why hold onto those messy old mining assets when you can just focus on, you know, the future of computing and the next big thing?
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2026-02-24 17:24