Cipher Mining Inc.
19.96-0.58 (-2.82%)
Oct 28, 4:00:01 PM EDT · NasdaqGS · CIFR · USD
Key Stats
Market Cap
8.08BP/E (TTM)
-Basic EPS (TTM)
-0.44Dividend Yield
0%Recent Filings
8-K
Cipher launches $800M notes offering
Cipher Mining announced plans to offer $800 million in 0.00% convertible senior notes due 2031 in a private placement to qualified buyers, with an option for $120 million more. The notes, unsecured and non-interest bearing, mature October 1, 2031, and can convert into cash or shares under specific conditions. Proceeds will fund data center construction at Barber Lake, accelerate high-performance computing expansion across its 2.4 GW pipeline, and support general purposes. Hedging activities may sway stock prices.
8-K
Cipher leases 168 MW to Fluidstack
Cipher Mining inked a 10-year datacenter lease with Fluidstack for 168 MW of critical IT load at its Texas facility, set for delivery by September 2026, locking in ~$3 billion in revenue while Google backstops $1.4 billion of obligations via a recognition agreement. In exchange, Google snags warrants for 24.2 million shares at $0.01 each, yielding a ~5.4% stake. This pivots Cipher toward AI hosting, bolstering its 2.4 GW pipeline. Yet Fluidstack's default risks loom large.
10-Q
Q2 FY2025 results
Cipher Mining's Q2 revenue climbed 18% y/y to $43.6M from bitcoin mining, yet operating losses widened to $45.2M amid a 118% surge in depreciation to $44.1M from Odessa fleet upgrades and Black Pearl energization; net loss hit $45.8M, or $0.12 per diluted share on 375M shares, versus $15.3M last year, with the gap tied to fair-value swings on bitcoin and derivatives. YTD revenue rose 9% to $92.5M but operating loss ballooned to $83.3M, reflecting $87.6M depreciation and $7.0M equity investee losses including a $4.0M impairment share. Cash burned $103.5M on operations, offset by $271.0M financing inflows from $172.5M convertible notes due 2030 at 1.75% and $85.7M ATM stock sales, ending with $62.7M cash and $167.1M net debt. Black Pearl's Phase I now delivers 6.9 EH/s self-mining. Bitcoin price volatility remains a key risk.
8-K
Cipher Q2 earnings and expansion
Cipher Mining reported Q2 2025 revenue of $44 million, a GAAP net loss of $46 million, yet non-GAAP adjusted earnings of $30 million, reflecting solid operational execution amid bitcoin mining volatility. Black Pearl Phase I energized ahead of schedule, boosting self-mining capacity to 16.8 EH/s and targeting 23.5 EH/s by Q3 end, while a $172.5 million convertible note funded rig orders. Phase II's flexible design bridges bitcoin mining and HPC, positioning Cipher for tenant leasing. Forward-looking plans hinge on market demand and regulatory approvals.
8-K
Terminates Bitfury observer agreement
Cipher Mining Inc. terminated its Board Observer Agreement with Bitfury investors on July 22, 2025, ending rights to a non-voting board observer and information access that Bitfury never exercised. The move severs unused ties from a 2022 deal, tied to Bitfury's ownership dropping below 10%. Mutual releases clear lingering obligations. Clean break achieved.
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