Cipher Digital Reports $24.8 Million in Bitcoin Mining Revenue for Q2
Cipher Digital has reported its second-quarter 2026 financial results, which show a significant revenue of $24.8 million from bitcoin mining in Q2. This is a notable increase compared to the prior-year quarter's net loss of $45.8 million and a basic and diluted loss per share of $0.65.
The company also announced that it had completed the initial data center capacity at Black Pearl, two months ahead of schedule. Rent commenced shortly after. Cipher acquired an option for the Apollo site, with up to 900 MW near San Antonio, Texas, and fully funded the Stingray data center development through substantial completion.
The company's revenue was generated from bitcoin mining, but it also reported a net loss of $267.5 million for the quarter. This is a significant loss compared to the prior-year quarter's net loss. Cipher's construction activities continued during the period at various sites, including Barber Lake, Black Pearl, and Stingray.