Cipher Mining officially changed its name to Cipher Digital, signaling a shift from pure bitcoin mining to a wider range of digital infrastructure services. The new brand is intended to encompass cloud computing, high-performance computing and other emerging digital technologies.

Cipher Digital revealed plans to liquidate its holdings of bitcoin held on its balance sheet. While the exact number of coins to be sold was not disclosed, the move is designed to convert digital assets into cash.

Proceeds from the planned bitcoin sale are earmarked for bolstering the company’s liquidity and funding expansion initiatives. Management indicated that the refreshed capital structure will support investments in new data center capacity and technology upgrades.