TechFlow News, February 24: According to CoinDesk, Cipher Digital (formerly Cipher Mining) announced a strategic pivot—from Bitcoin mining to operating high-performance computing (HPC) data centers—and rebranded as Cipher Digital. The company reported $60 million in Q4 revenue, below analysts’ expectations of $84.4 million; adjusted EPS loss was $0.14, worse than the expected loss of $0.06. Cipher Digital has signed a 15-year, 300-megawatt lease agreement with Amazon AWS, and 10-year, 300-megawatt lease agreements with Fluidstack and Google. It has also raised $3.73 billion through three bond issuances to fund the construction of its Barber Lake and Black Pearl data center projects. Following the earnings report, the company’s stock declined approximately 5% in pre-market trading.
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