Cipher Digital reports Q3 2026 results with first HPC lease revenue and $9.1 bn Barber Lake lease expansion
Cipher Digital Inc. posted its third‑quarter 2026 earnings, recognizing its first high‑performance computing (HPC) lease revenue of about $5.9 million. The company also amended the Barber Lake data‑center lease to a 20‑year term, raising total contracted revenue at the site to roughly $9.1 billion. It completed an $850 million zero‑coupon convertible notes offering and retired $165.9 million of existing convertible debt. Net income turned positive at $31.6 million while adjusted EBITDA remained a loss of about $10 million.
Why it matters
KBW kept an Outperform rating and an $11 price target, noting the revenue miss but emphasizing the long‑term contracted revenue boost. The share price fell roughly 5% after the miss, reflecting short‑term investor concern.
Key facts
- 1Cipher recognized its first HPC lease revenue of $5.9 million in Q3 2026. finance.yahoo.com
- 2The Barber Lake lease was extended to a 20‑year term, increasing contracted revenue to approximately $9.1 billion. stocktitan.net
- 3Cipher completed an $850 million offering of 0.000% convertible senior notes due 2032. stocktitan.net
- 4The company equitized about $165.9 million of its 1.750% convertible notes due 2030. stocktitan.net
- 5Q3 2026 net income was $31.6 million. finance.yahoo.com
- 6Adjusted EBITDA for the quarter was a loss of approximately $10 million. finance.yahoo.com
Summary written by AlphAI AI Desk from 20 of 23 sources. Not investment advice. Figures are as stated by the linked sources.