Cipher Digital, formerly Cipher Mining, rebrands to reflect a shift to HPC data center development. The company divested a 49% stake in mining sites and secured funding for data center projects through high-yield bonds. Sales to Canaan Inc. and successful bond offerings mark a strategic transition for Cipher towards industrial-scale data centers. With financing secured, construction at Barber Lake and Black Pearl remains on track.

The rebrand to Cipher Digital signifies a shift towards long-term leases with leading technology companies. Cipher sold a 49% stake in three mining sites and select mining machines to Canaan Inc. for $40 million. The company executed high-yield offerings totaling $3.73 billion to finance data center projects at Barber Lake and Black Pearl, with construction progressing as planned.

Cipher’s transition to a leading infrastructure platform involves securing 600 MW of HPC capacity through leases with AWS, Fluidstack, and Google. The company completed multiple bond offerings totaling $3.73 billion to finance data center buildouts. With construction at Barber Lake and Black Pearl progressing on schedule, Cipher aims to become a premier developer and operator of data centers for next-generation compute.

Financial highlights for Cipher include a Q4 2025 revenue of $60 million and an adjusted net loss of $55 million. The company’s rebrand to Cipher Digital reflects a strategic pivot towards HPC data center development. With a focus on securing long-term leases with top technology clients, Cipher has positioned itself as a leader in industrial-scale data centers engineered for high-performance computing workloads.

Read more at GlobeNewswire: Cipher Digital Provides Fourth Quarter and Full Year 2025