From "mining" to accelerating its transformation into an AI data center operator! Cipher (CIFR.US) turned a year-over-year profit in Q3, with its first HPC revenue recognized

Zhitong Finance APP has learned that the most important change in the third-quarter earnings report of Cipher Digital (CIFR.US), which has recently been accelerating its transformation from a Bitcoin miner into a large-scale developer and operator of high-density AI/HPC (high-performance computing) data centers, is arguably the first confirmation of AI/HPC leasing revenue: lease payments began after the initial capacity delivery at Black Pearl, and the company has taken a step verifiable by revenue in its shift from a Bitcoin miner to an AI data center developer and operator. However, the new business has not yet fully taken over from the old business, and at present, the first receipt of rent cannot be equated with the complete fulfillment of the transformation process from a mining company to an AI data center operator.