Bitcoin miner Cipher reports $31M profit as it begins AI pivot

Bitcoin mining company Cipher posted a $31 million profit in its latest quarter, even as its revenue fell 63% year over year. The reported profit came largely from a $127 million accounting gain, which offset an underlying operating loss. The results coincide with the company's early steps toward shifting its business into artificial intelligence. The article presents the figures as a snapshot of a miner in transition rather than a sign of strong core operations.