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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Cipher Digital reported a net loss of $114 million for Q1 2026 as it accelerates its strategic pivot toward AI infrastructure. In a significant liquidity move, Core Scientific sold $208 million worth of Bitcoin during the first quarter to fund its operational transition, despite reporting a net loss due to impairment charges. The company also expanded its contract with CoreWeave by 590 MW, a deal projected to generate $10.2 billion in revenue over the next 12 years. This follows Core Scientific's $421 million acquisition of Polaris to bolster its Oklahoma AI data center campus. Similarly, Hut 8 and CleanSpark are liquidating Bitcoin inventories to finance high-performance computing projects, highlighting an industry-wide shift aimed at mitigating cryptocurrency volatility through long-term AI infrastructure contracts.
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