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Cipher Digital posts $114M Q1 loss as Bitcoin mining revenue falls
Cipher Digital posted a $114 million net loss in the first quarter as bitcoin mining revenue fell to $35 million from $49 million a year earlier. The company said it signed its third AI data center campus lease with an investment-grade Hyperscale tenant in the first quarter as it continued shifting toward AI and cloud infrastructure. Cipher Digital also said last month that it secured a revolving credit facility of up to $200 million, while its bitcoin holdings fell to $76 million from $125 million.