Bitcoin miner sells 1,619 Bitcoin at a $47 million loss before its AI data center paid rent

Bitcoin miner Cipher Digital sold 1,619 Bitcoin for $123.4 million and booked $47.7 million in realized losses. Its filing shows $66.7 million in interest expense against $24.8 million in mining revenue, roughly 2.7-to-1.

Cipher ended June with 646 Bitcoin worth $37.8 million, and quarterly mining revenue fell from $43.6 million a year earlier, with the second quarter carrying $23.5 million of the realized loss.

The second quarter revenue came entirely from Bitcoin mining at Odessa. The Black Pearl rent clock started after June 30, and Cipher began delivering initial Black Pearl data center capacity at the beginning of August, two months ahead of the original schedule, and rent had commenced by the time it released its Aug. 4 business update.

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