Quarterly ResultMay 5, 2026, 07:31 AM
Cipher Digital Q1 Revenue $34.8M, Adj. EBITDA -$48.2M; Secures $200M Credit Facility
AI Summary
Cipher Digital Inc. announced its first quarter 2026 financial results, reporting $34.8 million in revenue and a negative Adjusted EBITDA of $48.2 million. The company also secured a new $200 million revolving credit facility and signed a third AI data center campus lease with an investment-grade hyperscale tenant. Development at the Barber Lake and Black Pearl data centers is progressing on schedule, with Barber Lake topped out and Black Pearl Phase I retrofitting underway.
Key Highlights
- Q1 2026 Revenue was $34.8 million, down from $49.0 million in Q1 2025.
- Q1 2026 Adjusted EBITDA was -$48.2 million, compared to $7.5 million in Q1 2025.
- Q1 2026 Net Loss was $114.3 million, significantly higher than $39.0 million in Q1 2025.
- Secured a $200 million revolving credit facility from leading global financial institutions.
- Signed a third AI data center campus lease with an investment-grade hyperscale tenant.
- Barber Lake data center building topped out in April, with mechanical, electrical, and networking work ongoing.
- Black Pearl data center Phase I retrofitting and Phase II site work are progressing on schedule.
- Total assets increased to $6.39 billion as of March 31, 2026, from $4.29 billion at December 31, 2025.