Cipher Mining (CIFR) shares fall despite $18M Q4 profit

Cipher Mining Inc. (CIFR) shares fell nearly 17.5% on February 25, 2025, despite reporting strong Q4 2024 results.  

The stock closed at $4.10 but saw a slight after-hours increase to $4.19.  

While full-year revenue rose nearly 19% year-over-year to $151 million, operating losses more than doubled from $20.1 million in 2023 to $43.7 million.  

In Q4, Cipher posted a net profit of $18 million, reversing a $91.4 million operating loss in Q3.  

Adjusted earnings for the quarter were $51 million, or $0.14 per share, with revenue reaching $42 million, a 75% increase from Q3.  

The company mined Bitcoin (CRYPTO:BTC) at an average price of $84,000 per BTC.  

Cipher’s strategic expansion included upgrading its Odessa fleet, increasing its self-mining hashrate to 13.5 EH/s, acquiring the Stingray data center site with 100 MW capacity, and securing 337 acres near its Barber Lake site.  

CEO Tyler Page described Q4 as "extremely productive," emphasising continued expansion efforts.  

The company expects to energise its "Black Pearl" site in Q2 and is negotiating a 500 MW HPC data center near Barber Lake.  

Cipher has expanded its development pipeline to 2.8 GW, providing options for high-performance computing or Bitcoin mining facilities.  

Despite positive earnings, the stock’s decline may reflect investor concerns over market conditions or expansion costs.  

Rival firms Marathon Digital (MARA) and Core Scientific (CORZ) are set to report earnings on February 26.