Cipher Digital reports a loss of $114 million in the first quarter, accelerating the transformation to AI data center business

Golden Finance reports that on May 5th, Bitcoin mining company Cipher Digital disclosed a net loss of $114 million in the first quarter of 2026, further widening from a $39 million loss in the same period last year.
The financial report shows that the company’s Bitcoin mining revenue for the quarter dropped to $35 million, a year-over-year decline (last year’s same period was $49 million), and its Bitcoin holdings also decreased from $125 million to $76 million.
Despite the performance pressure, CEO Tyler Page emphasized that the company is accelerating its transformation towards AI and high-performance computing infrastructure. The company signed its third AI data center park leasing agreement in the first quarter, with a client being an investment-grade ultra-large-scale cloud provider.

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