Cipher Digital Inc. (CIFR)
Cipher Digital Inc., together with its subsidiaries, develops and operates industrial-scale data centers for bitcoin mining and high-performance compute (HPC) hosting in the United States. It develops HPC data center facilities across various sites for hyperscaler tenants; operates power at one bitcoin mining data center; and maintains a pipeline across various sites. The company was formerly known as Cipher Mining Inc. and change its name to Cipher Digital Inc. in February 2026. The company was founded in 2021 and is headquartered in New York, New York.
- Symbol
- CIFR
- Exchange
- Nasdaq
- Sector
- Technology
- Industry
- Information Technology Services
- Market cap
- $7.60B
- 52 week range
- 11.01 - 30.14
Valuation
- Share price
- $18.35 (close of 2026-09-23)
- P/E (TTM)
- -6.44x
- Price to book
- 13.52x
- Price to free cash flow
- -5.10x
- Enterprise value
- $12.36B
- Book value per share
- $1.36
Price performance
| Period | Change |
|---|
| 1 day | -3.88% |
| 5 days | +9.75% |
| 1 month | +16.36% |
| 3 months | -33.61% |
| 6 months | +23.24% |
| Year to date | +24.32% |
| 1 year | +29.68% |
| 3 years | +652.05% |
| 5 years | +63.40% |
| All time | +85.36% |
Profitability and growth
- Return on equity
- -102.07%
- Return on invested capital
- -14.21%
- Return on assets
- -19.16%
- Return on capital employed
- -11.73%
- Gross margin
- 63.73%
- Net margin
- -367.17%
- EBITDA margin
- -99.38%
- Revenue growth
- 48.04%
- Net income growth
- -1742.15%
- Free cash flow growth
- -206.54%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- -19.61%
- Current ratio
- 3.00x
- Net debt to EBITDA
- -5.87x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $223.94M
- Cost of revenue
- $81.22M
- Gross profit
- $142.73M
- EBITDA
- $-222.56M
- Net income
- $-822.24M
- Earnings per share
- $-2.15
- Shares outstanding
- 381.60M
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|
| 2025-12-31 | $223.94M | $142.73M | $-822.24M | $-2.15 |
| 2024-12-31 | $151.27M | $88.91M | $-44.63M | $-0.14 |
| 2023-12-31 | $126.84M | $76.53M | $-25.78M | $-0.10 |
| 2022-12-31 | $3.04M | $2.29M | $-39.05M | $-0.16 |
| 2020-12-31 | - | - | $-107.03K | $0.00 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|
| 2025-12-31 | 63.73% | -367.17% | -102.07% | -14.21% |
| 2024-12-31 | 58.77% | -29.51% | -6.55% | -5.96% |
| 2023-12-31 | 60.34% | -20.32% | -5.25% | -4.58% |
| 2022-12-31 | 75.37% | -1285.91% | -11.39% | -10.64% |
| 2020-12-31 | - | - | -7.94% | -212.66% |
Cash and debt by year
| Period end | Cash | Debt |
|---|
| 2025-12-31 | $628.26M | $2.71B |
| 2024-12-31 | $5.58M | - |
| 2023-12-31 | $74.18M | - |
| 2022-12-31 | $11.93M | - |
| 2020-12-31 | $1.28M | - |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|
| 2025-12-31 | $-695.86M | $52.79M |
| 2024-12-31 | $-227.01M | $42.13M |
| 2023-12-31 | $-114.72M | $38.47M |
| 2022-12-31 | $-60.13M | $41.50M |
Investor relations
Next earnings report
- Next confirmed report
- 2026-11-02
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-08-04 | Jun/2026 | - |
| 2026-05-05 | - | - |
| 2026-02-24 | - | - |
| 2025-11-03 | - | - |
| 2025-08-07 | - | - |
| 2025-05-06 | - | - |
| 2025-02-25 | - | - |
| 2024-11-06 | - | - |
Filings and sources
- Company website
- cipherdigital.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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