Cipher Digital Inc. (NASDAQ:CIFR) shares are trading higher on Tuesday following the company’s first-quarter FY 2026 results.

Earnings Snapshot

EPS was a loss of 28 cents, compared to a loss per share of 11 cents. Revenue was $34.84 million, below the consensus estimate of $36.01 million.

The company reported adjusted EBITDA loss of $48.22 million vs. adjusted EBITDA of $7.50 million in the year-ago quarter.

At quarter-end, Cipher reported total assets of $6.39 billion, including $715.2 million in cash and cash equivalents, $3.01 billion in current restricted cash, and $519.3 million in noncurrent restricted cash.

The company currently has 907 MW of operating and contracted capacity, including three data center campus leases with hyperscale tenants.

It currently has a ~3.3 GW grid-connected pipeline, with capacity expected to come online progressively between 2027 and 2030+.

In particular, Cipher has 700 MW of contracted HPC capacity with contracted revenue of over $11.4 billion.

Bitcoin (CRYPTO: BTC/USD) holdings totaled $76.15 million, and miners held for sale were valued at $30.77 million. Total liabilities were $5.65 billion, with an accumulated deficit of $1.118 billion.

Executive Commentary

Tyler Page, chief executive officer, added, "We are proud to announce massive development progress at both the Barber Lake and Black Pearl campuses. On the business development front, we built on the strong momentum from last year by signing our third AI data center campus lease with an investment-grade Hyperscale tenant in the first quarter.”

”We also secured our first corporate revolving credit facility, strengthening our liquidity position by providing up to $200 million of committed borrowing capacity from leading global financial institutions. Looking forward, we will continue to build on this momentum and establish ourselves as the leading HPC development platform."

The company said that the construction progress remains on track across key projects: the Barber Lake facility was topped out in April, with mechanical, electrical, and network installations underway, while at Black Pearl, Phase I retrofitting is advancing, and Phase II site work began in April.

CIFR Price Action: Cipher Digital shares were up 8.44% at $19.39 at the time of publication on Tuesday, according to Benzinga Pro data.

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