Cipher Digital

Earlier this week, Cipher CEO @rftylerpage joined Stephen Byrd for a fireside chat at Morgan Stanley's TMT Conference in San Francisco. Listen here: investors.cipherdigital.com/events/event-d…

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This morning, Cipher released its Q4 and FY’25 business update and announced an official rebrand to Cipher Digital, reflecting $CIFR's strategic transition into a leading HPC data center development platform. The Company also announced the following updates: - Barber Lake and Black Pearl developments remain on schedule and on budget - Divested 49% interests in the Alborz, Bear, and Chief JV sites and select mining equipment for ~$40 million in an all-stock transaction - Reported Q4 2025 revenue of $60 million “Building on a transformative 2025, the fourth quarter reflected continued momentum as we advanced our evolution into a leading HPC data center development company,” said Tyler Page, CEO. “With financing fully secured and construction on track for both of our currently contracted developments, 2026 is a year of execution as we establish Cipher Digital as a premier platform powering next-generation compute.” More here: bit.ly/3Ox0Y96

Cipher is pleased to welcome Thomas Duda to its Board of Directors. “Our board brings a diverse range of experience and expertise to support the Company’s ambitions, and Tom’s top tier commercial real estate expertise will be a significant benefit as we continue transforming Cipher into a leading infrastructure development company,” said Tyler Page, Chief Executive Officer. Press Release: bit.ly/4twUXZO

@CipherInc is thrilled to be attending the 28th Annual Needham Growth Conference tomorrow, January 13th. $CIFR's CEO, @rftylerpage, will be hosting a Fireside Chat at 3pm ET. The live webcast can be found here: wsw.com/webcast/needha… The replay will also be available in the Events section of Cipher’s website.

Cipher is pleased to welcome industry veterans @lee_bratcher and @_drewarmstrong_ to the team. *Lee Bratcher joins as Head of Policy & Government Affairs *Drew Armstrong joins as Head of Strategic Initiatives “As Cipher continues to grow into one of the world’s largest data center developers, adding experienced leaders of the caliber of Lee and Drew is critical,” said Tyler Page, Chief Executive Officer. “Their combined regulatory, strategic, and industry experience will help accelerate our growth as we continue on our path to becoming the leading innovator in the AI and HPC data center industry.” Press Release: globenewswire.com/news-release/2…

@CipherInc is pleased to announce the acquisition of a 200 MW site in Ohio. The site, named Ulysses, is Cipher’s first outside of Texas. *195 acres with secured interconnection approvals to participate in the PJM market *Expected to energize in Q4 2027 *Well-suited for HPC given its acreage, energization timeline, availability of diverse fiber paths, and proximity to a major metropolitan area With this addition, $CIFR's development pipeline totals ~3.4 GW across 8 sites. Full release: bit.ly/3Lckfv0

Structural concrete and steel erection are underway at Barber Lake, just 8 weeks after lease execution. Another example of $CIFR's best-in-class team delivering quality execution at scale, with speed.

Cipher Mining Signs Additional 56 MW, 10-Year AI Hosting Agreement with Fluidstack In this transaction, Cipher will deliver 39 MW of Critical IT Load to Fluidstack at its Barber Lake site, securing ~$830M in contracted revenue over the initial 10-year term. The agreement also includes two 5-year extension options. If exercised, these extension options would bring the total contracted revenue to ~$2.0 billion for this transaction and ~$9.0 billion in total for the entire lease. With these newly contracted megawatts, Fluidstack is increasing the size of its original transaction and leasing the entire 300 MW of capacity at $CIFR's Barber Lake site. To support the buildout, @Google will backstop an additional $333M of @fluidstack's lease obligations. “We’re excited to expand our partnerships with Fluidstack and Google as we develop the remaining current capacity at our Barber Lake site,” said Tyler Page, Cipher’s CEO. “This third transaction further validates Cipher’s position as a leader in HPC development and underscores the strong momentum that will continue to drive growth across our pipeline of sites.” Full Press Release here: bit.ly/3XCnhez

Yesterday on @CNBC, our CEO @rftylerpage shared how Cipher is powering AI infrastructure with our two milestone HPC transactions and growing pipeline of capacity. Check it out: cnbc.com/video/2025/11/… $CIFR #AI #HPC #DataCenters #Innovation

This morning, $CIFR released its Q3’25 business update, marking a transformative quarter highlighted by major progress in expanding our HPC strategy and pipeline. Cipher announced the following updates: *Signed a 300 MW, ~$5.5 billion, 15-year lease agreement with Amazon Web Services to provide turnkey space and power for AI workloads *Secured majority ownership in a JV to Develop a 1 GW Site, called “Colchis”, in West Texas *AI Hosting contracts, including the Q3 transaction with Fluidstack and Google, represent approximately $8.5 billion in lease payments *Delivered strong financial results with revenue of $72m and non-GAAP adjusted earnings of $41m “The third quarter was truly transformative for Cipher, as we executed two milestone HPC transactions and expanded our development pipeline,” said Tyler Page, CEO. “As the industry evolves rapidly, we’re more confident than ever that Cipher is among the best-positioned companies in the world to seize additional opportunities created by the growing power shortfall." More here: bit.ly/47B2MUl

Cipher will host its Q3 2025 earnings call on Monday, November 3rd at 8:00 AM ET. We look forward to providing a business update and releasing our third quarter results. The live webcast and a webcast replay can be accessed from the investor relations section of $CIFR's website at: investors.ciphermining.com

As he completes his first week, we’re excited to formally welcome Greg Mumford as $CIFR’s new Chief Financial Officer. “Greg’s track record as a dealmaker, structuring complex transactions and navigating dynamic capital markets, makes him uniquely well-suited to help us capitalize on the extraordinary momentum and opportunities we are seeing in the HPC space,” said Tyler Page, CEO. “His experience advising on transformative deals in digital infrastructure and industrials will be invaluable as we continue to scale.” Press Release: bit.ly/46GjOkJ

Black Pearl Phase I continued to scale in September and has now reached completion, bringing $CIFR's total self-mining hashrate to ~23.6 EH/s. And we have begun construction at Barber Lake, as shown in the picture below. *BTC Mined: ~251 BTC *BTC Sold: ~158 BTC *BTC Held: ~1,500 BTC *Deployed Mining Rigs: ~114,000 *Month End Operating Hashrate (EH/s): ~23.6 *Month End Fleet Efficiency (J/TH): ~16.8 Press Release: bit.ly/4o8iSLK #BTC #HPC

Cipher Mining Signs 168 MW, 10-Year AI Hosting Agreement with Fluidstack In this transaction, Cipher will deliver 168 MW of Critical IT Load to Fluidstack at its Barber Lake site, securing ~$3B in contracted revenue over the initial 10-year term. The agreement also includes two 5-year extension options which, if exercised, would bring the total contract revenue to ~$7B. To support the buildout, @Google will backstop $1.4B of @fluidstack's lease obligations and will receive warrants to acquire shares of $CIFR common stock, equating to a ~5.4% pro forma equity ownership stake. “We are thrilled to be working with Fluidstack to develop HPC data centers, and we look forward to welcoming Google as an investor in Cipher. This transformative transaction reinforces our HPC momentum as we continue to attract attention for our large and growing pipeline of sites,” said Tyler Page, Cipher’s CEO. “We believe this transaction represents the first of several in the HPC space as we continue to scale our capabilities and strengthen our position in this rapidly growing sector.” Full Press Release here: bit.ly/3KlH9PR