Cipher Digital Inc.
For the period ended Mar 31, 2026. Filed May 5, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 5, 2026
CIFR$6.53-4.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations
(in thousands, except for share and per share amounts)
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Revenue - bitcoin mining | $34,838 | $48,959 |
| Costs and operating (expenses) income | ||
| Cost of revenue | (17,705) | (14,894) |
| Compensation and benefits | (35,003) | (14,303) |
| General and administrative | (11,741) | (8,951) |
| Depreciation and amortization | (19,014) | (43,467) |
| Change in fair value of power purchase agreement | (28,230) | 7,330 |
| Power sales | 2,138 | 991 |
| Equity in losses of equity investees | (1,601) | (5,292) |
| Unrealized gains (losses) on fair value of bitcoin | 3,760 | (20,178) |
| Realized (losses) gains on sale of bitcoin | (24,223) | 12,196 |
| Other operating losses | (17,788) | (479) |
| Total costs and operating expenses | (149,407) | (87,047) |
| Operating loss | (114,569) | (38,088) |
| Other income (expense) | ||
| Interest income | 31,590 | 190 |
| Interest expense | (59,158) | (777) |
| Change in fair value of warrant liability | 43,610 | - |
| Other expenses | (15,382) | (156) |
| Total other income (expense) | 660 | (743) |
| Loss before taxes | (113,909) | (38,831) |
| Current income tax expense | (407) | (779) |
| Deferred income tax benefit | - | 635 |
| Total income tax expense | (407) | (144) |
| Net loss | (114,316) | (38,975) |
| Less: Net loss attributable to redeemable noncontrolling interest | - | - |
| Net loss available for common stockholders | $(114,316) | $(38,975) |
| Loss per share - basic and diluted | $(0.28) | $(0.11) |
| Weighted average shares outstanding - basic and diluted | 405,112,315 | 360,514,620 |
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