NEW YORK, Sept. 04, 2025 (GLOBE NEWSWIRE) -- Cipher Mining Inc. (NASDAQ:CIFR) (“Cipher” or the “Company”) today released its unaudited production and operations update for August 2025. Key Highlights Key MetricsAugust 2025BTC Mined1241BTC Sold42BTC Held1,414Deployed Mining Rigs115,000Month End Operating Hashrate (EH/s)<td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom ...

Group 1 - Cipher Mining Inc. reported a quarterly loss of $0.12 per share, consistent with the Zacks Consensus Estimate, compared to a loss of $0.05 per share a year ago [1] - The company posted revenues of $43.57 million for the quarter ended June 2025, missing the Zacks Consensus Estimate by 7.2%, and this is an increase from $36.81 million in the same quarter last year [2] - Over the last four quarters, Cipher Mining has surpassed consensus EPS estimates only once [1][2] Group 2 - The stock has gained approximately 12.3% since the beginning of the year, outperforming the S&P 500's gain of 7.9% [3] - The company's earnings outlook, including current consensus earnings expectations, will be crucial for future stock performance [4] - The current consensus EPS estimate for the upcoming quarter is -$0.08 on revenues of $73.42 million, and for the current fiscal year, it is -$0.32 on revenues of $265.33 million [7] Group 3 - The Zacks Industry Rank indicates that the Technology Services sector is in the top 38% of over 250 Zacks industries, suggesting a favorable outlook for stocks in this sector [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5] - The estimate revisions trend for Cipher Mining was favorable ahead of the earnings release, resulting in a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ________________________________________________________________________________________________________________ FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________to ________. Commission File Number: 001 ...

Financial Data and Key Metrics Changes - In Q2 2025, the company reported revenue of $44 million, down 10% from $49 million in Q1 2025, attributed to rising network cash rates and summer power prices in Texas [33][34] - The GAAP net loss for the quarter was $46 million, or $0.12 per share, compared to a net loss of $15 million, or $0.05 per share in Q2 2024 [34][35] - Adjusted earnings for Q2 2025 were $30 million, or $0.08 per share, up approximately 400% from $6 million in the previous quarter [34][36] - The company’s cash position increased from $23 million in March to $63 million in June, reflecting the remaining proceeds from a convertible offering and opportunistic Bitcoin sales [42] Business Line Data and Key Metrics Changes - The company mined a total of 4.44 Bitcoin in Q2 2025, with 4.34 Bitcoin from Odessa and 10 Bitcoin from Black Pearl, generating revenue at an average price of approximately $99,700 per Bitcoin [37] - Black Pearl Phase 1 contributed about 2% of quarterly revenue, with expectations for significant growth in future quarters as production ramps up [24][37] Market Data and Key Metrics Changes - The average all-in electricity cost per Bitcoin produced at Odessa was approximately $24,686, while the combined all-in electricity cost for joint venture sites was roughly $44,594 [22][24] - The company’s projected all-in weighted average power cost remains competitive at $0.31 per kilowatt hour [8] Company Strategy and Development Direction - The company is focused on strategically evaluating funding options to support growth while minimizing dilution, having raised approximately $168 million in net proceeds from a convertible offering [12] - Black Pearl Phase 2 is being developed to support both hydro Bitcoin mining and HPC compute applications, with a flexible design to accommodate future tenant demands [15][19] - The company aims to capitalize on the growing demand for power and tightening supply in the HPC market, with ongoing discussions to secure advantageous deals [14][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term value of Barber Lake and the potential for Black Pearl Phase 2, highlighting the increasing energy demands of advanced AI systems [14][18] - The company anticipates that the demand for energy will continue to grow, positioning itself to support tenants as the HPC market scales [19][21] Other Important Information - The company successfully paid off all short-term borrowings, reducing its liabilities significantly from $139 million in Q1 to $53 million in Q2 [46][48] - The company’s operating capacity currently stands at 477 MW, with potential pipeline capacity expansion of up to 2.6 GW in the coming years [10] Q&A Session Summary Question: Can you quantify the time to convert from hydro Bitcoin mining to AI HPC compute? - The company expects to have the full 150 megawatts ready by the back half of next year, with the ability to accommodate fast requests for HPC [51][53] Question: What would trigger hyperscalers to choose an operator in your peer set? - There has been increased interest from hyperscalers, particularly in July, with many reaching out for discussions [57][59] Question: What are the potential differences in costs affiliated with the hybrid model compared to a pure mining site? - The estimated cost for the hybrid model is about $1.5 million per megawatt, with additional costs depending on tenant requirements [63][65] Question: What sites are being actively marketed for HPC? - The primary focus is on Barber Lake, Black Pearl Phase 2, and Stingray, with ongoing discussions with potential tenants [87][89]

Operations and Hashrate Growth - Cipher Mining's self-mining hashrate increased from approximately 16.8 EH/s in Q2 2025 to approximately 20.4 EH/s currently, with an expected increase to approximately 23.5 EH/s in Q3 2025[16] - Black Pearl Phase I construction was completed, deploying approximately 6.9 EH/s, with plans to increase to approximately 10.0 EH/s in Q3 2025 after purchasing approximately 1.5 EH/s of Canaan A15 Pro rigs[17] - The company's operating capacity, including JV capacity, is approximately 477 MW, with a future potential capacity of approximately 2.6 GW across 7 sites[14] Financial Performance - Revenues increased from $37 million in Q2 2024 to $44 million in Q2 2025, representing an approximately 18.9% increase year-over-year[61] - Adjusted earnings improved significantly from a loss of $3 million in Q2 2024 to a profit of $30 million in Q2 2025[62] - GAAP net earnings decreased from a loss of $15 million in Q2 2024 to a loss of $46 million in Q2 2025[62] - Adjusted earnings per share increased from a loss of $0.01 in Q2 2024 to earnings of $0.08 in Q2 2025[62] Development Pipeline - Black Pearl Phase I has a total power capacity of 150 MW and Black Pearl Phase II has a total power capacity of 150 MW[40] - The Barber Lake site has an approved power capacity of 300 MW and a total acreage of 587 acres[42][43] - The Stingray site has an approved power capacity of 100 MW and a total acreage of 250 acres, with energization expected in Q3 2026[48][49][52] Bitcoin Holdings and Power Costs - Cipher Mining held approximately 1,063 BTC in Q2 2025, compared to approximately 1,034 BTC in Q1 2025[11] - The weighted average power price is approximately 3.1 cents/kWh[14] - The power cost per BTC in Q2 2025 was $27,324[14]

Exhibit 99.1 Cipher Mining Provides Second Quarter 2025 Business Update Second Quarter 2025 Revenue of $44m and Non-GAAP Adjusted Earnings of $30m Black Pearl Phase I exceeds growth targets, bringing Cipher's total self-mining capacity to ~16.8 EH/s and on track to deliver ~23.5 EH/s by the end of the third quarter 2025 NEW YORK— August 7, 2025 —Cipher Mining Inc. (NASDAQ: CIFR) ("Cipher" or the "Company") today announced its second quarter 2025 financial results, as well as an update on its operations and ...

Core Insights - Cipher Mining Inc. reported its unaudited production and operations update for July 2025, highlighting significant metrics in bitcoin mining and operational efficiency [1] Production Metrics - The company mined approximately 214 BTC in July 2025, with 52 BTC sold during the month, resulting in a total holding of around 1,219 BTC at month-end [2][4] - Cipher deployed 115,000 mining rigs, achieving a month-end operating hashrate of 20.4 EH/s and a fleet efficiency of 19.2 J/TH [2] Financial Performance - The estimated power sales for July were equivalent to approximately 6 BTC, based on the month-end bitcoin price of $115,637, along with an additional 21 BTC mined at joint venture data centers representing Cipher's ownership [2][6] Operational Developments - The Black Pearl Phase I project began contributing significantly to production, accounting for about 24% of the total bitcoin mined in July, with expectations for increased contributions in the coming months as the project scales [3][5] - A business update is scheduled for the earnings call on August 7, 2025, where further insights into the company's operations will be shared [3]

Key Takeaways The cryptocurrency market has been witnessing a strong rally this month. Bitcoin (BTC), the largest cryptocurrency globally, touched the all-time high of 123,091.61 on July 14. Thereafter, it hovers around 118,000. Ethereum (ETH) rebounded sharply and is up more than 57% in the past month. Positive developments on the global tariff and trade front and the evaporation of a near-term recession fear in the U.S. economy boosted cryptocurrencies. Meanwhile, this space gathers momentum predominantly ...

Group 1 - Cipher Mining Inc. is a rapidly growing bitcoin extraction company poised to significantly increase its income due to an increasing hash rate and more efficient equipment in the coming years [1] - The company operates in a sector that is experiencing growth, driven by advancements in technology and rising demand for bitcoin [1] Group 2 - The investment strategy of the analyst focuses on uncovering high-upside opportunities in overlooked sectors, particularly small-caps, energy, commodities, and special situations [1] - The analyst employs a combination of fundamental momentum indicators such as EPS, ROE, and revenue, along with price-volume confirmation and macro filters to identify potential investments [1] - Econometric tools like GARCH and Granger causality are utilized to understand risk and volatility, indicating a comprehensive approach to market analysis [1]

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