Cipher Digital

Q2 FY2026 EarningsQ2 FY26 results missed consensus across key financial metrics, with revenue of $24.8M vs. $31.7M expected and a GAAP EPS loss of -$0.65 vs. the -$0.25 consensus mean. Despite the top-line miss, the company accelerated HPC data center delivery at Black Pearl by two months and secured an option for a new 900 MW site (Apollo), signaling a strategic pivot toward hyperscale infrastructure. A significant $150.5M non-cash charge from warrant liability valuation heavily impacted the bottom line.