Tuesday was a record-breaking day for U.S. stocks, but you wouldn't know that from the performance of Cipher Digital's (CIFR -3.49%) equity. These fell notably short of expectations, and Cipher Digital's share price fell by almost 16% across the trading day. Pundits tracking Cipher Digital stock were modeling revenue of just over $32.5 million, and a far narrower per-share net loss of $0.23. Cipher Digital identified this client as only an "investment-grade hyperscale tenant" without elaborating. Unfortunately for Cipher Digital, that's exactly what it provided with the second-quarter results.