Cipher (CIFR.US) is showing signs of growing pains in its transformation: Q2 mining revenue plummeted by 43%, and losses have widened, but the first AI data center was delivered early and is generating rental income.

According to Zhitong Finance APP, Cipher Digital (CIFR.US) released its Q2 2026 financial report and disclosed its latest operational status before U.S. stock trading on Tuesday. The data shows that the company reported a net loss of $267.5 million for Q2, compared to a net loss of $45.78 million in the same period last year; the loss per share was $0.65, while the market had previously expected a loss per share of $0.25; the adjusted EBITDA loss was approximately $30 million; Bitcoin mining revenue was $24.8 million, down 43.0% year-on-year, which fell short of market expectations.