Cipher Mining (CIFR)
NASDAQ:CIFR
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Earnings Data
Report Date
Aug 11, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-0.24Last Year’s EPS
-0.12Same Quarter Last Year
Strong Buy
Based on 9 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong execution across leasing, financing, and construction — with three hyperscaler campus leases, a $2.0B project bond, a $200M corporate revolver, a large contracted revenue base ($11.4B) and a multi-gigawatt pipeline. Operational milestones (Barber Lake topping out, Black Pearl retrofit progress), high procurement completion rates, and a substantial liquidity position underpin confidence in delivery. Key negatives include a marked QoQ revenue decline (-41.7%) tied to the planned mining wind-down, elevated leverage (~$5.2B) and higher interest expense (+~78.8%), working capital pressure (accounts payable +~395%), and dependency on ERCOT interconnect outcomes for mid-term pipeline conversion. On balance the company highlighted numerous execution and financing wins that materially de-risk development and create visible contracted cash flows, while acknowledging specific near-term revenue and financing headwinds.Company Guidance
Third Hyperscale Campus Lease Signed
Executed a 15-year campus lease with an investment-grade hyperscale tenant, representing the third consecutive long-term hyperscaler lease in ~8 months; contributes to a contracted portfolio anchored by world-class counterparties.
Large Contracted Revenue and Capacity Base
907 megawatts of operating and contracted gross capacity today, backed by approximately $11.4 billion in contracted revenue across base lease terms (10–15 years); contracted average annualized NOI expected at ~$787 million from Oct 2026–Sep 2036 and ~$892 million in 2035.
Substantial Development Pipeline
Approximately 3.3 gigawatts of additional pipeline grid capacity (4.2 gigawatts total portfolio across operating, contracted and pipeline), providing long runway for growth and competitive advantage in site sourcing.
Successful $2.0B Black Pearl Bond Offering
Completed a $2.0 billion senior secured bond at a 6.125% coupon for Black Pearl, which was significantly oversubscribed and reimbursed Cipher ~ $233 million for prior equity contributions; bonds trading at a premium to par signaling investor confidence.
New $200M Revolving Credit Facility
Closed a $200 million 4-year corporate revolver (undrawn at quarter end) with a syndicate including Morgan Stanley, Goldman Sachs, JPMorgan and others, improving corporate liquidity and reflecting institutional lender confidence.
Strong Construction Execution — Barber Lake
Barber Lake topped out (approx. 800,000 sq ft) to deliver 207 MW IT load; 127 days from first column to last beam; >1,100 daily active workers in April ( >1,400 expected in May); >1 million cumulative labor hours with 0 lost-time incidents; ~99% of equipment secured and design 100% complete.
Black Pearl Transition and Progress
Demolition of legacy Bitcoin mining infrastructure completed quickly; Phase I retrofit progressing with ~93% of Phase I equipment secured and Phase II ~80% secured; both phases tracking toward contractual early access and rack-ready dates.
Stingray and Other Site Mobilizations
Stingray (Andrews County) mobilized in Q1 with 100 MW gross capacity fully approved and target energization in Q4 2026; Reveille (70 MW, ERCOT-approved) and Ulysses (200 MW, PJM-approved) are in advanced discussions and targeted for 2027 energization windows.
Odessa Bitcoin Operations Cash Flow
Odessa operating 207 MW, producing ~11.6 EH/s at ~17.2 J/TH efficiency and mined ~346 BTC in Q1; fixed-price PPA at ~$0.028/kWh positions Odessa among the lowest-cost miners and continues to generate healthy cash flow while platform refocuses on HPC.
Improved Balance Sheet Liquidity & Asset Growth
Unrestricted cash and equivalents of $715 million and Bitcoin holdings of $76 million; restricted cash ~ $3.5 billion ring-fenced for construction; total assets rose to $6.4 billion from $4.3 billion quarter-over-quarter (+~48.8%), and property & equipment net grew to ~$1.3 billion from $633 million (+~105.6%).
Reduction in GAAP Loss vs Prior Quarter
GAAP net loss narrowed to $114 million in Q1 from a $734 million loss in Q4, an improvement of ~$620 million (loss reduction of ~84.5%), driven by planned mining wind-down and fewer one-time noncash charges in the quarter.
CIFR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
CIFR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 05, 2026 | $17.89 | $22.10 | +23.53% |
Feb 24, 2026 | $15.22 | $17.12 | +12.48% |
Nov 03, 2025 | $18.65 | $22.76 | +22.04% |
Aug 07, 2025 | $5.21 | $4.87 | -6.53% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Cipher Mining (CIFR) report earnings?
Cipher Mining (CIFR) is schdueled to report earning on Aug 11, 2026, Before Open (Confirmed).
What is Cipher Mining (CIFR) earnings time?
Cipher Mining (CIFR) earnings time is at Aug 11, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CIFR EPS forecast?
CIFR EPS forecast for the fiscal quarter 2026 (Q2) is -0.24.