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Cipher slides 16% on wider Q2 losses

Cipher reported a Q2 net loss of $267.5 million, more than five times its loss from a year earlier.

Reported · Written up by our desk · Market Structure

Cipher fell 16% as investors reacted to wider losses in its latest quarter. The Block reported that the bitcoin miner-turned-HPC developer moved lower despite a view from Bernstein that there is potential upside tied to a Texas power audit.

In its Q2 results, Cipher posted a net loss of $267.5 million. The Block said that figure was more than five times the loss the company recorded in the same period a year earlier.

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