Cipher Digital Shifts to Hyperscale HPC With $11.4B Contracted Revenue Backlog
Cipher Digital (CIFR) has pivoted from Bitcoin mining to hyperscale HPC infrastructure, securing three long-term leases totaling 700 MW contracted capacity and $11.4B in contracted revenue with $787M average annualized NOI. The company disclosed the shift in its Q1 2026 update.
Cipher Digital has exited Bitcoin mining and secured three long-term hyperscale high-performance computing leases totaling 700 MW of contracted capacity, building an $11.4 billion contracted revenue backlog. The company disclosed the pivot in its first-quarter 2026 update, highlighting a visible ramp to $787 million in average annualized net operating income from the hyperscale platform.
The company is Cipher Digital, ticker CIFR. The three leases represent a complete strategic repositioning from cryptocurrency mining to enterprise AI and compute workloads. No named executives, specific counterparties, or lease execution dates were disclosed in the materials reviewed.
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