PANews February 24 News, according to CoinDesk, the original Bitcoin mining company Cipher Mining has renamed itself Cipher Digital after releasing its Q4 earnings report, with its stock price dropping about 5% pre-market. The company reported Q4 revenue of $60 million, below analysts’ expectations of $84.4 million; adjusted loss per share of $0.14, higher than the expected loss of $0.06; quarterly adjusted net loss of $55 million.
Management described 2025 as a year of transformation, as the company shifts from Bitcoin mining to high-performance computing infrastructure. This quarter, Cipher secured 600 MW of contracted capacity, including a 300 MW, 15-year lease with Amazon Web Services, and a 300 MW, 10-year lease with Fluidstack and Google. The company raised $3.73 billion through three priority secured bond issuances to fund the construction of the Barber Lake and Black Pearl data center projects. Cipher also sold approximately $40 million worth of stock to acquire a 49% stake in three mining joint ventures, streamlining its structure to focus on a data center-centric business model transformation.
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