Cipher Digital loses $114 million in Q1 as bitcoin miner accelerates AI data center pivot
The Block
Cipher Digital reported a $114 million Q1 loss while shifting its business focus toward AI data center infrastructure and high-performance computing.Summary
Cipher Digital reported a net loss of $114 million for the first quarter of 2026, a significant increase from its $39 million loss in the same period the previous year. Bitcoin mining revenue also declined to $35 million as the firm continues to transition away from a pure-play mining model toward leasing infrastructure to AI and cloud providers. Despite the financial losses, CEO Tyler Page emphasized the company's progress in securing AI data center leases and developing its HPC platform, with major projects like Barber Lake and Black Pearl remaining on schedule.
(Source：The Block)