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

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.