Cipher Digital's stock soars 25% in five-day rally despite heavy losses

Cipher Digital has seen a sharp rise in its stock price, climbing 25% over five straight winning sessions. The company recently hit a record high of $28.64 on 18 June 2026, marking a 649% increase year-over-year. The surge in Cipher Digital’s value has added roughly $2.2 billion to its market capitalisation. Its year-to-date gains for 2026 now stand at 78.5%. Despite this growth, the firm reported significant losses, with quarterly operating deficits of $228.9 million and $64.3 million in its last two reporting periods. Its most recent annual net loss surpassed $822 million.

To support expansion, the company issued $810 million in senior secured notes. These funds will finance a new data centre project in West Texas. Amazon has signed on as the anchor tenant under a 15-year lease agreement. Additionally, Cipher Digital appointed Bill Blevins as Head of Grid Strategies to oversee its energy and infrastructure initiatives. The stock’s strong performance reflects investor confidence in Cipher Digital’s growth. The West Texas data centre, backed by Amazon’s long-term commitment, is a major step in its expansion. Yet, the company’s financial reports still show substantial losses despite its rising market value.