Cipher Digital suffered a loss of $114 million in the first quarter, with decreased revenue and holdings

Bitcoin mining company Cipher Digital disclosed a net loss of $114 million for the first quarter of 2026, expanding from a loss of $390 million in the same period last year. According to the financial report, the company's Bitcoin mining revenue for the quarter decreased to $35 million, a year-on-year decline (compared to $490 million in the same period last year), and Bitcoin holdings decreased from $125 million to $760 million. CEO Tyler Page stated that the company is accelerating its transformation towards AI and high-performance computing infrastructure, and has signed a third AI data center park lease agreement with investment grade ultra large scale cloud vendors.