Cipher Digital Shares Fall After Quarterly Loss Widens

Dow Jones08-04

Cipher Digital shares fell after the bitcoin miner and data-center developer reported a wider second-quarter loss.

Shares were recently down 11% at $21.51.

Cipher posted a net loss of $267.5 million, or 65 cents a share, compared with a loss of $45.8 million, or 12 cents a share, a year earlier.

Wall Street analysts expected a loss of 24 cents a share.

Revenue from bitcoin mining fell to $24.8 million from $43.6 million.

Separately, Cipher said it accelerated delivery of capacity at its Black Pearl data center campus after amending its lease with an investment-grade hyperscale tenant. Rent at the site commenced at the beginning of August, two months ahead of the original schedule.

The company also said it acquired an option on a new 900-megawatt data-center site near San Antonio, Texas, and completed project-level financing that fully funds development of its Stingray data center through substantial completion.

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment