Cipher Mining Q2 GAAP net loss $15M; adding 1.7 GW power, targets 35 EH/s by 2025

Cipher Digital Inc.

2024-Q2 EPS reported $0.08 revenue$84,945,000

Q2 2024 GAAP net loss $15M ($0.05 diluted share); non-GAAP adjusted loss $3M ($0.01/share).
Current self-mining hashrate ~8.7 EH/s; targeting ~13.5 EH/s by Q4 2024 and ~35.0 EH/s by end-2025.
Acquiring 1.7 GW power capacity: Reveille site (up to 200 MW) closing soon; term for option on 1.5 GW sites.
Construction of 300 MW Black Pearl data center underway; energization expected Q2 2025.
Odessa site upgrade on track for Q4 2024 to reach ~13.5 EH/s.

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