Cipher Digital signs third AI data center lease in first quarter 2026, reporting negative $48.2 million in Adjusted EBITDA.

Cipher Digital reported first quarter 2026 revenue of $34.8 million and a net loss of $0.28 per share. The company recorded an Adjusted EBITDA of negative $48.2 million as it continues its transition to developing data centers for HPC workloads.

Key Highlights

• Signed a third data center campus lease with an investment-grade hyperscale tenant, continuing its expansion into AI infrastructure.
• Secured a new $200 million revolving credit facility to strengthen its liquidity position.
• Reported a negative Adjusted EBITDA of $48.2 million on $34.8 million in revenue for the quarter.
• Confirmed that development timelines for its Barber Lake and Black Pearl data centers remain on schedule.