Cipher Digital Stock Drops on Q2 Earnings Miss
Cipher Digital's (CIFR) second-quarter results were met with a 15.6% stock price drop on August 4, despite delivering data center capacity ahead of schedule.
The company reported a loss of $0.65 per share, exceeding consensus estimates by $0.44, and revenue of approximately $25 million, falling short of expectations and down from $35 million in Q1 2026.
Management attributes most of the widening loss to a $150.5 million non-cash warrant remeasurement and revenue decline to decommissioning bitcoin mining at Black Pearl as the company shifts towards contracted data center revenue.
Cipher has 907 megawatts of operating or contracted capacity, but its pipeline of 4.4 gigawatts is stalled due to a lack of Texas approval, with no specific date attached.