Cipher Mining (NASDAQ:CIFR) Issues Quarterly Earnings Results, Misses Expectations By $0.41 EPS

Posted by on Aug 4th, 2026

Cipher Mining (NASDAQ:CIFR – Get Free Report) posted its earnings results on Tuesday. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.41), FiscalAI reports. Cipher Mining had a negative return on equity of 117.65% and a negative net margin of 427.79%.The business had revenue of $24.84 million for the quarter, compared to the consensus estimate of $31.86 million. During the same quarter in the prior year, the firm posted ($0.12) earnings per share.

Here are the key takeaways from Cipher Mining’s conference call:

  • Black Pearl capacity was delivered two months ahead of schedule at the tenant’s request, with rent already commenced; Barber Lake remains on track for rental payments beginning in October.
  • Cipher completed an $810 million Stingray project financing at a 6% coupon, its lowest project-level coupon to date, and said its three contracted projects are fully funded through completion. Management reported $870 million of unrestricted liquidity and does not currently expect to need additional equity.
  • Management described demand for hyperscale AI infrastructure as the strongest it has seen, with multiple prospective tenants for Reveille, Ulysses and Odessa. The company added the up-to-900-megawatt Apollo site and now cites a 4.4-gigawatt future pipeline within a 5.3-gigawatt, 11-site portfolio.
  • The ERCOT Batch Zero approval process was delayed following a letter from the Texas governor requesting further review and audits, creating uncertainty around the timing of approximately 2 gigawatts of prospective projects. Management remains confident its sites are well positioned but could not provide a revised timeline.
  • Second-quarter revenue fell to $25 million from $35 million sequentially, while the GAAP net loss widened to $268 million, driven largely by a $150.5 million non-cash warrant remeasurement loss. Executives also expect labor and equipment inflation to push future data-center costs above the historical $9 million–$11 million per megawatt range.

Cipher Mining Stock Down 11.5%

NASDAQ:CIFR opened at $21.37 on Tuesday. The firm has a market capitalization of $8.74 billion, a price-to-earnings ratio of -9.07 and a beta of 3.20. Cipher Mining has a twelve month low of $4.55 and a twelve month high of $30.14. The stock’s 50 day moving average price is $23.39 and its two-hundred day moving average price is $19.12. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 6.13.

Insider Buying and Selling

In related news, Director Cary M. Grossman sold 15,000 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $29.43, for a total transaction of $441,450.00. Following the transaction, the director directly owned 143,829 shares in the company, valued at approximately $4,232,887.47. The trade was a 9.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wesley Hastie Williams sold 14,567 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $21.41, for a total transaction of $311,879.47. Following the sale, the director directly owned 115,409 shares in the company, valued at $2,470,906.69. This trade represents a 11.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,245,336 shares of company stock worth $83,803,938 in the last quarter. 3.09% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CIFR. State Street Corp raised its holdings in shares of Cipher Mining by 10.2% in the 4th quarter. State Street Corp now owns 8,078,423 shares of the company’s stock valued at $119,238,000 after purchasing an additional 745,030 shares during the period. Value Aligned Research Advisors LLC grew its holdings in Cipher Mining by 45.9% during the fourth quarter. Value Aligned Research Advisors LLC now owns 7,447,495 shares of the company’s stock worth $109,925,000 after purchasing an additional 2,342,958 shares during the period. Tidal Investments LLC grew its holdings in Cipher Mining by 28.3% during the second quarter. Tidal Investments LLC now owns 6,984,438 shares of the company’s stock worth $33,386,000 after purchasing an additional 1,541,138 shares during the period. Invesco Ltd. increased its position in Cipher Mining by 40.0% during the third quarter. Invesco Ltd. now owns 6,852,074 shares of the company’s stock worth $86,268,000 after buying an additional 1,958,385 shares during the last quarter. Finally, Two Sigma Investments LP increased its position in Cipher Mining by 64.9% during the third quarter. Two Sigma Investments LP now owns 6,746,401 shares of the company’s stock worth $84,937,000 after buying an additional 2,655,015 shares during the last quarter. Institutional investors own 12.26% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. BTIG Research lifted their price objective on Cipher Mining from $25.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Sanford C. Bernstein assumed coverage on shares of Cipher Mining in a report on Wednesday, June 3rd. They issued an “outperform” rating and a $32.00 price objective on the stock. Morgan Stanley cut their price objective on shares of Cipher Mining from $48.50 to $47.00 and set an “overweight” rating on the stock in a research report on Monday, July 20th. Keefe, Bruyette & Woods increased their target price on shares of Cipher Mining from $27.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, July 28th. Finally, HC Wainwright raised their target price on shares of Cipher Mining from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Cipher Mining presently has an average rating of “Moderate Buy” and a consensus price target of $28.74.

Get Our Latest Stock Analysis on Cipher Mining

About Cipher Mining

(Get Free Report)

Cipher Mining Inc is a Nasdaq-listed bitcoin mining company that develops, owns and operates large-scale mining facilities across the United States. The company focuses on deploying advanced ASIC hardware and securing long-term low-cost power contracts to optimize bitcoin production. By strategically locating its sites in regions with abundant energy supply, Cipher Mining seeks to maintain a competitive cost structure and deliver efficient hashrate capacity growth.

Founded in 2021 and headquartered in Austin, Texas, Cipher Mining has pursued an integrated approach encompassing site development, equipment procurement and operations management.

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Earnings History for Cipher Mining (NASDAQ:CIFR)

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