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Cipher Mining rebrands as Cipher Digital, shifting focus from bitcoin mining to HPC infrastructure

Cipher Mining rebrands as Cipher Digital, shifting focus from bitcoin mining to HPC infrastructure

PANewsPANews2026/02/24 13:27
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PANews, February 24—According to CoinDesk, former bitcoin mining company Cipher Mining has rebranded as Cipher Digital after releasing its fourth-quarter financial report, with its stock price falling about 5% in pre-market trading. The company reported fourth-quarter revenue of $60 million, below analysts’ expectations of $84.4 million; adjusted loss per share was $0.14, higher than the expected loss of $0.06; and the quarterly adjusted net loss was $55 million.

Management described 2025 as a year of transformation, as the company is shifting from bitcoin mining to high-performance computing infrastructure. This quarter, Cipher secured 600 megawatts of contracted capacity, including a 15-year, 300-megawatt lease with Amazon Web Services, and a 10-year, 300-megawatt lease with Fluidstack and Google. The company raised $3.73 billion through three senior secured bond issuances to fund the construction of the Barber Lake and Black Pearl data center projects. Cipher also sold a 49% stake in three mining joint ventures for approximately $40 million in stock, streamlining its structure to advance its data center-focused business model transformation.

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