Cipher Digital reports second quarter 2026 results
Key points
- Revenue $24.8M; net loss $267.5M; total assets $7.5B; total debt $6.02B ($4.54B secured project debt + $1.47B convertible notes)
Site updates (4)
| Site | Status | Active | In build | Theoretical |
|---|---|---|---|---|
McLennanTexas Q2 2026 business update (exhibit 99.2): grid-pipeline site, 500 MW gross capacity. All deposits funded and land secured; requisite studies and executed FEA submitted to ERCOT on time — expected to be included in Batch Zero. Target energization 2028, subject to ERCOT batch process. | Disclosed | — | — | 500 MWgross |
MikeskaTexas Q2 2026 business update (exhibit 99.2): grid-pipeline site, 500 MW gross capacity. All deposits funded and land secured; requisite studies and executed FEA submitted to ERCOT on time — expected to be included in Batch Zero. Target energization 2028, subject to ERCOT batch process. | Disclosed | — | — | 500 MWgross |
UlyssesCotulla, OH Q2 2026 business update (exhibit 99.2): grid-pipeline site. ERCOT interconnection approved for 200 gross MW, substation development initiated; in discussions for HPC hosting lease. Target energization Q4 2027. | Disclosed | — | — | 200 MWgross |
MilsingTexas Q2 2026 business update: grid-pipeline site in the 2028-2029 bucket ("Milsing, Mikeska, Barber Lake expansion, McLennan = 2,000 MW combined"). 500 MW gross inferred as the residual of that bucket after Mikeska, the Barber Lake expansion and McLennan (500 MW each). Target energization 2028, subject to the ERCOT process. | Disclosed | — | — | 500 MWgross |