Cipher Mining (NASDAQ:CIFR) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Cipher Mining (NASDAQ:CIFR) announced its earnings results on Tuesday. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.01), Briefing.com reports. The firm had revenue of $34.84 million for the quarter, compared to the consensus estimate of $36.01 million. Cipher Mining had a negative return on equity of 107.05% and a negative net margin of 367.17%.Cipher Mining’s revenue for the quarter was down 28.8% compared to the same quarter last year.

Here are the key takeaways from Cipher Mining’s conference call:

• Cipher signed a third 15‑year data center campus lease with an investment‑grade hyperscaler, bringing operating and contracted capacity to 907 MW and roughly $11.4 billion of contracted revenue over base terms.
• The company completed a $2.0 billion project bond (fully funding Black Pearl) and closed a $200 million corporate revolver, leaving Cipher with ~$715 million cash plus ~$3.5 billion of restricted construction cash to support near‑term builds.
• Execution and procurement remain strong — Barber Lake topped out with ~99% of equipment secured, Black Pearl phases are progressing (phase‑1 ~93%/phase‑2 ~80% equipment secured), Stingray mobilized toward Q4‑2026 energization, and Odessa continues to mine Bitcoin at an industry‑low ~ $0.028/kWh.
• Q1 revenue declined to $35 million (from $60M) due to the planned wind‑down of mining at Black Pearl, resulting in a GAAP net loss of $114 million and higher interest expense (~$59M), with a $28M non‑cash decrease in PPA fair value also weighing on results.
• Cipher highlights a deep pipeline (~3.3 GW pipeline; ~4.2 GW portfolio) with Reveille (70 MW) and Ulysses (200 MW) in advanced stages, while McLennan, Mikeska and Colchis (~2.5 GW) remain contingent on ERCOT’s batch process outcome expected in the near term.

Cipher Mining Trading Up 8.6%

Shares of Cipher Mining stock traded up $1.54 during trading on Tuesday, hitting $19.43. The stock had a trading volume of 18,155,815 shares, compared to its average volume of 27,458,375. The stock has a 50 day simple moving average of $15.64 and a 200 day simple moving average of $16.79. The company has a market capitalization of $7.89 billion, a PE ratio of -9.07 and a beta of 3.13. The company has a quick ratio of 3.79, a current ratio of 3.79 and a debt-to-equity ratio of 3.37. Cipher Mining has a 1 year low of $2.88 and a 1 year high of $25.52.

Insider Activity

In other Cipher Mining news, Director James E. Newsome sold 45,161 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $15.74, for a total transaction of $710,834.14. Following the sale, the director directly owned 127,331 shares of the company’s stock, valued at $2,004,189.94. The trade was a 26.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Cary M. Grossman sold 30,000 shares of the stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $14.54, for a total value of $436,200.00. Following the completion of the sale, the director owned 170,530 shares of the company’s stock, valued at $2,479,506.20. The trade was a 14.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 148,229 shares of company stock worth $2,283,968 in the last quarter. Insiders own 2.63% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Los Angeles Capital Management LLC acquired a new position in Cipher Mining during the fourth quarter valued at $25,000. Arax Advisory Partners boosted its position in Cipher Mining by 274.2% during the 4th quarter. Arax Advisory Partners now owns 1,826 shares of the company’s stock worth $27,000 after acquiring an additional 1,338 shares during the period. Meeder Asset Management Inc. purchased a new position in Cipher Mining during the 4th quarter valued at about $28,000. Parallel Advisors LLC grew its stake in Cipher Mining by 663.0% during the 3rd quarter. Parallel Advisors LLC now owns 4,166 shares of the company’s stock valued at $52,000 after acquiring an additional 3,620 shares in the last quarter. Finally, Rafferty Asset Management LLC acquired a new position in shares of Cipher Mining in the 2nd quarter valued at about $54,000. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CIFR shares. Wall Street Zen cut Cipher Mining from a “hold” rating to a “strong sell” rating in a research report on Sunday, March 1st. Rosenblatt Securities reaffirmed a “buy” rating and set a $24.00 target price on shares of Cipher Mining in a research note on Thursday, March 26th. HC Wainwright lowered their target price on Cipher Mining to $25.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Keefe, Bruyette & Woods dropped their price target on shares of Cipher Mining from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cipher Mining in a report on Friday, March 27th. Fourteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

Cipher Mining Company Profile

Cipher Mining Inc is a Nasdaq-listed bitcoin mining company that develops, owns and operates large-scale mining facilities across the United States. The company focuses on deploying advanced ASIC hardware and securing long-term low-cost power contracts to optimize bitcoin production. By strategically locating its sites in regions with abundant energy supply, Cipher Mining seeks to maintain a competitive cost structure and deliver efficient hashrate capacity growth.

Founded in 2021 and headquartered in Austin, Texas, Cipher Mining has pursued an integrated approach encompassing site development, equipment procurement and operations management.