Stock Track | Cipher Mining Stock Plummets 6.55% on Mixed Q4 Earnings and Operational Updates

Stock Track
02-25

Cipher Mining Inc. (NASDAQ: CIFR) saw its stock price plummet 6.55% in pre-market trading on Tuesday, following the release of its fourth quarter and full year 2024 financial results and operational updates.

While the company reported adjusted earnings per share of $0.14 for Q4, beating analyst estimates, its revenue from bitcoin mining fell short of expectations at $42.2 million. For the full year 2024, Cipher Mining posted a net loss of $44.6 million, or $0.14 per share.

However, the company highlighted several key operational developments during the quarter, including:

  • Completing the upgrade of its Odessa fleet, increasing total self-mining hashrate to approximately 13.5 EH/s
  • Acquiring the 100 MW Stingray data center site in West Texas
  • Acquiring an additional 337 acres of land adjacent to its Barber Lake site
  • Entering into exclusivity to negotiate building an additional 500 MW HPC data center adjacent to the Barber Lake site

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