Cipher Digital (CIFR) shares fell 15.7% on Tuesday after the bitcoin (BTC) miner reported wider losses in the second quarter of this year.
The bitcoin miner-turned-HPC developer posted a net loss of $267.5 million in the second quarter, more than five times the loss it registered a year ago, according to its Q2 report released Tuesday.
It posted $24.8 million in revenue in the quarter, down from $43.6 million in Q2 2025.
The company also said that it delivered its first Black Pearl data center capacity at the beginning of August, roughly two months ahead of schedule.
"A core strength of our strategy is its repeatability, and in the second quarter, we demonstrated that once again," said Tyler Page, CEO of Cipher.
