Cipher Digital (CIFR) shares trade higher after earnings, bets big on hyperscale future

CoinDesk

by James Van Straten

February 24, 2026

AI-Generated Deep Dive Summary

Cipher Digital (CIFR) shares climbed over 6% following a fourth-quarter report that fell short of Wall Street expectations, driven by the company's strategic pivot from bitcoin mining to high-performance computing (HPC) data centers. Despite reporting $60 million in revenue—below analyst estimates of $84.4 million—the firm emphasized its shift toward long-term HPC infrastructure as a key growth driver. This rebranding reflects Cipher's focus on hyperscale data center development, with significant contracts secured, including 15-year agreements totaling 600 megawatts with major tech firms like Amazon Web Services and Google. The company's move away from legacy mining ventures, which yielded minimal EBITDA, is seen as a positive step toward a more sustainable business model. Cipher has invested heavily in HPC data centers, raising $3.73 billion through bond offerings to finance projects like Barber Lake and Black Pearl. These initiatives are expected to transform the company's revenue streams, aligning with Wall Street's growing interest in HPC and hyperscale computing. Cipher's strategic decisions have positioned it as a key player in the evolving tech landscape. By divesting from mining and focusing on data center services, Cipher aims to tap into the growing demand for scalable infrastructure solutions. This pivot is particularly significant for crypto investors

Verticals

cryptofinance

Originally published on CoinDesk on 2/24/2026