Cipher Mining Q1 GAAP net income $40M; revenue $48M; hash rate target 25.1 EH/s by end 2025

Cipher Digital Inc.

2024-Q1 EPS reported $0.13 revenue$48,137,000

GAAP net income of $40M and non-GAAP adjusted earnings of $63M for Q1 2024.
Revenue of $48M; current self-mining hash rate ~7.7 EH/s.
On track for ~9.3 EH/s by Q3 2024; target of at least ~25.1 EH/s by end 2025.
30 MW expansions at Bear & Chief JV; Black Pearl 300 MW data center construction underway.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Cipher Digital Inc. reported the first quarter ended March 31, 2024 results: revenue $48m, net income GAAP Net Income of $40m. Guidance reaffirmed.

Period: the first quarter ended March 31, 2024
Revenue: $48m
Net income: GAAP Net Income of $40m
Guidance: reaffirmed
Result: reported results

Exact text from the filing

99.1 Cipher Mining Provides First Quarter 2024 Business Update First Quarter 2024 GAAP Net Income of $40m, and Non-GAAP Adjusted Earnings of $63m First Quarter 2024 Revenues of $48m Current Self-Mining Hash Rate of ~7.7 EH/s and on track to reach ~9.3 EH/s by end of Third Quarter 2024, with plans to grow to ~25.1 EH/s by end of 2025 NEW YORK—May 7, 2024—

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Source: SEC EDGAR

accession 0000950170-24-053937

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