Cipher Digital rebrands as it pivots from bitcoin mining to HPC, shares slide

Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Cipher Digital rebrands as it pivots from bitcoin mining to HPC, shares slide Revenue and adjusted EPS come in below estimates as company leans into large scale data center buildout. By James Van Straten | Edited by Sheldon Reback Feb 24, 2026, 1:07 p.m. Make us preferred on Google Cipher is switching focus from bitcoin mining to high-performance computing (Shutterstock modified by CoinDesk) What to know : Cipher Digital fell short of analysts' revenue and EPS estimates in the fourth quarter. The company, formerly Cipher Mining, rebranded to reflect a pivot from bitcoin production to high-performance computing. The shares fell 5% in pre-market trading. Cipher Digital (CIFR) shares fell about 5% in premarket trading after the company reported fourth-quarter results that missed Wall Street expectations and highlighted its shift away from bitcoin BTC $ 63,018.42 mining and toward high-performance computing (HPC) data centers. The company, formerly known as Cipher Mining, reported fourth-quarter revenue of $60 million, below analyst estimates of $84.4 million. Adjusted earnings per share came in at a loss of $0.14, wider than the forecast loss of $0.06. Cipher posted an adjusted net loss of $55 million for the quarter. STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy . Management pointed to 2025 as a transformative year as it pivots away from bitcoin mining and toward long-term HPC infrastructure. During the quarter, Cipher secured 600 megawatts of contracted capacity, including a 15-year, 300 megawatt (MW) lease with Amazon Web Services and a 10-year, 300 MW lease with Fluidstack and Google. The company also raised $3.73 billion through three senior secured bond offerings to finance construction at its Barber Lake and Black Pearl data center projects, both of which remain on schedule. Cipher divested its 49% stakes in three mining joint ventures for about $40 million in stock, further simplifying its structure as it transitions to a data center-focused business model. Cipher Mining Bitcoin News AI More For You Over 400,000 BTC bought between $60k and $70k during bitcoin’s latest downturn By James Van Straten | Edited by Jamie Crawley 47 minutes ago Glassnode data shows a 43% surge in supply clustered in the $60K to $70K range following bitcoin’s 50% decline from its October all time high. What to know : Supply in the $60K to $70K band has risen from roughly 997,000 BTC on Jan. 1 to about 1.43 million BTC, meaning more than 8% of non exchange circulating supply now sits in this range. The $70K to $80K region has been described as an air pocket, and during the recent sell off bitcoin fell from $80K to $70K in just five days. Read full story Latest Crypto News Canton advances cross-border repo to free up $300 trillion assets via tokenization 8 minutes ago Over 400,000 BTC bought between $60k and $70k during bitcoin’s latest downturn 47 minutes ago Bitcoin teeters near $63,000 as pippin's rally shows froth remains 53 minutes ago The ghost of the iPhone: Why Michael Saylor thinks bitcoin is mirroring Apple’s legendary ‘valley of despair’ 1 hour ago Crypto markets bleed as bitcoin hovers above liquidation zone 1 hour ago Step Finance shuts operations after $27 million January hack 2 hours ago Top Stories Putting the treasury to work: The Ethereum Foundation just staked 70,000 ETH to fund its future 2 hours ago Jane Street faces claims of insider trading that sped up Terraform's 2022 collapse 7 hours ago Hong Kong's RedotPay said to plan blockbuster $1 billion IPO in New York: Bloomberg 3 hours ago Canaan buys Cipher’s 49% of West Texas mining venture for $39.75 million in stock 2 hours ago Bitcoin's price discovery is moving to Chicago 6 hours ago Anthony Pompliano led Procap Financial dips toe into buybacks 21 hours ago In this article BTC BTC $ 63,018.42 ◢ 4.76 %