Cipher Digital Reports $114 Million Loss in Q1, Accelerates Transition to AI Data Center Business

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On May 5, Bitcoin mining company Cipher Digital disclosed a net loss of $114 million for the first quarter of 2026, a significant increase from a loss of $39 million in the same period last year. The financial report showed that the company’s Bitcoin mining revenue fell to $35 million, down from $49 million year-on-year, while its Bitcoin holdings decreased from $125 million to $76 million. Despite the challenging performance, CEO Tyler Page emphasized that the company is accelerating its transition to AI and high-performance computing infrastructure. In the first quarter, the company signed its third AI data center campus leasing agreement with an investment-grade hyperscale cloud provider. Currently, Cipher Digital is shifting from a single mining model to renting power and computing infrastructure to AI and cloud computing companies, while advancing the construction of its Barber Lake and Black Pearl data center projects. Additionally, the company recently secured a revolving credit facility of up to $200 million to support its transformation and expansion.

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