Cipher Digital (CIFR) sinks premarket after revenue miss, bets big on hyperscale future

Cipher Digital (CIFR), formerly Cipher Mining, saw its shares drop about 5% in premarket trading following fourth-quarter results that missed Wall Street expectations. The company reported revenue of $60 million against estimates of $84.4 million, and an adjusted EPS loss of $0.14, wider than the forecasted $0.06 loss. Management emphasized that 2025 will be transformative as the company pivots from bitcoin mining toward long-term high-performance computing (HPC) infrastructure. To support this shift, Cipher secured 600 megawatts of contracted capacity, including significant 15-year and 10-year leases with Amazon Web Services, Fluidstack, and Google. Furthermore, the company raised $3.73 billion through bond offerings to fund construction at its Barber Lake and Black Pearl data center projects and divested its stakes in three mining joint ventures for $40 million in stock to streamline its transition to a data center-focused model.

(Source：CoinDesk)