Cipher reports Q4 adjusted net loss of $55M, $3.73B funding for AI pivot
The post Cipher reports Q4 adjusted net loss of $55M, $3.73B funding for AI pivot appeared on BitcoinEthereumNews.com.
Cipher, a company formerly known as Cipher Mining, has released its Q4 and full-year 2025 results, reporting $60 million in revenue, below what analysts expected, with an adjusted net loss of $55 million. It attributed those figures to heavy transition costs as the company shifts away from its core business operations — Bitcoin mining. Those costs are being treated as necessary collateral. Cipher has rebranded Tyler Page, Chief Executive Officer, still tagged the year 2025 a transformative one that reflected continued momentum as the company advanced its evolution into a leading HPC data center development company. During the quarter, Cipher upsized its initial lease with Fluidstack and Google and signed its first HPC lease with Amazon. It also successfully executed multiple bond offerings to finance two of its existing HPC projects at Barber Lake and Black Pearl. “In recognition of this successful shift in our business model and strategic priorities going forward, we are proud to now officially operate as Cipher Digital,” Page declared. The company’s rebrand to Cipher Digital means the company is now focused on sourcing and securing power, developing advanced data centers purpose-built for HPC workloads, and leasing capacity to companies entrenched in the AI race. Cipher has secured financing for the transition To fund the transition, Cipher sold its 49% interest in the three 40 MW joint venture sites, Alborz, Bear, and Chief, as well as select Bitcoin mining machines previously deployed at Black Pearl, to Canaan Inc. for approximately $40 million in an all-stock transaction. The company has also successfully executed three offerings to finance the construction at Barber Lake and Black Pearl, raising $3.73 billion in the process. Cipher raised that amount via three senior secured bond offerings, and it is supposed to support the buildout of the HPC infrastructure. Securing funds for the…
Filed under: News - @ February 24, 2026 8:24 pm