Cipher Digital Stock Takes 16% Hit After Disappointing Earnings

Cipher Digital's stock took a hit on Tuesday, plummeting by nearly 16% as investors reacted to disappointing second-quarter earnings. The crypto miner reported revenue of $24.8 million, a sharp decline from the year-ago tally of nearly $43.6 million.

The company's headline net loss also deepened considerably, reaching almost $268 million ($0.65 per share) compared to a shortfall of less than $46 million in the second quarter of 2025. Much of this was due to a non-cash warrant remeasurement loss of almost $151 million.

Cipher Digital's results fell short of consensus analyst estimates, which had modeled revenue of just over $32.5 million and a narrower per-share net loss of $0.23. The company cited recent softness in crypto prices as an obvious culprit for the disappointing results.