Cipher Digital reported a total power development pipeline of approximately 5.9 GW, comprising 3.4 GW connected to the grid and up to 2.5 GW from potential on-site natural gas generation. In the third quarter of 2026, revenue fell 62.8% to $26.7 million from $71.7 million a year earlier. Bitcoin mining generated $20.85 million in revenue, while high-performance computing leasing contributed $5.85 million for the first time. Adjusted EBITDA stood at negative $9.96 million, reflecting revenue pressure during the transition. Cipher also secured a conditional classification for 1 GW at its Colchis site and extended the Barber Lake lease to 20 years, bringing total contracted revenue to approximately $9.1 billion.
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