Overview
- Q4 revenue was about $60 million versus roughly $84.4 million expected, with adjusted EPS at a loss of $0.14 and an adjusted net loss of $55 million.
- The company locked in 600 MW of contracted capacity, including a 15‑year, 300 MW lease with Amazon Web Services and a 10‑year, 300 MW lease tied to Fluidstack and Google.
- Cipher raised $3.73 billion through three senior secured bond offerings to fund construction of the Barber Lake and Black Pearl data centers, which remain on schedule.
- It divested 49% stakes in three bitcoin mining joint ventures for about $40 million in stock as it rebrands to Cipher Digital and shifts to high‑performance computing.
- Shares fell roughly 5% in premarket trading before recovering to trade up about 3.9% on the day, with analyst coverage broadly positive and recent insider sales totaling about $3.08 million.