Cipher Mining Provides Third Quarter 2025 Business Update

Core Insights - Cipher Mining Inc. reported third quarter 2025 revenue of $72 million and non-GAAP adjusted earnings of $41 million, indicating a significant operational performance [1][9] - The company executed a transformative 15-year lease agreement with Amazon Web Services valued at approximately $5.5 billion to support AI workloads, which includes delivering 300 MW of capacity by 2026 [2][9] - Cipher secured majority ownership in a joint venture to develop a 1-gigawatt site in West Texas, named "Colchis," which is expected to enhance its position in the high-performance computing (HPC) sector [3][4] Financial Performance - For Q3 2025, Cipher reported a net loss of $3 million, or $0.01 per share, while adjusted earnings were $41 million, or $0.10 per diluted share [9][21] - The company’s revenue from bitcoin mining reached $71.7 million, a significant increase from $24.1 million in the same quarter of the previous year [21] - Total assets as of September 30, 2025, were approximately $2.84 billion, compared to $855.4 million at the end of 2024, reflecting substantial growth [18] Strategic Developments - The lease with Amazon Web Services is a key step in establishing Cipher's credibility in the HPC space, following a previous agreement with Fluidstack and Google [2][5] - The Colchis site will include a Direct Connect Agreement with American Electric Power, targeting energization in 2028, which aligns with the company's strategic goals in the HPC market [4] - Cipher's management expressed confidence in the company's positioning to capitalize on the growing demand for power in the industry, particularly from Tier 1 hyperscalers [5]