---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-053937"
form_type: "8-K"
ticker: "CIFR"
cik: "0001819989"
company_name: "Cipher Digital Inc."
filed_at: "2024-05-07T23:59:59+00:00"
generated_at: "2026-06-02T19:45:27.328669+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-24-053937
- form_type: 8-K
- ticker: CIFR
- cik: 0001819989
- company_name: Cipher Digital Inc.
- filed_at: 2024-05-07T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1819989/000095017024053937/0000950170-24-053937-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1819989/000095017024053937/cifr-20240507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-053937
- JSON: https://secwatch.observer/filing/0000950170-24-053937.json
- Plain text: https://secwatch.observer/filing/0000950170-24-053937.txt

## Key facts
- Earnings Releases
  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
  source text: 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—
  evidence_url: https://www.sec.gov/Archives/edgar/data/1819989/000095017024053937/0000950170-24-053937-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.