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.

Ticker: CIFR
Exchange: Nasdaq
Sector: Technology
Industry: Information Technology Services
Market cap: $2.72B
52-week range: $5.07 - $30.14

Valuation

Share price: $6.55 (close of Nov 6, 2026)
P/E (TTM): -2.43x
Price to book: 4.53x
Price to free cash flow: -0.88x
Enterprise value: $7.68B
Book value per share: $1.45

Price performance

Period	Change
1 day	+18.02%
5 days	-10.15%
1 month	-57.74%
3 months	-64.03%
6 months	-70.10%
Year to date	-55.62%
1 year	-69.83%
3 years	+68.81%
5 years	-26.16%
All time	-33.84%

Short interest

As of: Oct 15, 2026
Short % of float: 26.84%
Shares short: 91.58M
Days to cover: 1.86
Change since prior report: +21.84%
Source: FINRA consolidated short interest

Profitability and growth

Return on equity: -102.07%
Return on assets: -19.16%
Net margin: -367.17%
Revenue growth: 48.04%

Cash flow and balance sheet

Free cash flow yield (TTM): -113.28%
Current ratio: 1.69x
Net debt to EBITDA: -6.54x

Latest reported year

Period end: Dec 31, 2025
Fiscal year: 2025
Revenue: $223.94M
Net income: -$822.24M
Earnings per share: $-2.15
Interest expense: $36.56M
Shares outstanding: 381.60M

Income statement by year

Period end	Revenue	Net income	EPS
2025-12-31	$223.94M	-$822.24M	-$2.15
2024-12-31	$151.27M	-$44.63M	-$0.14
2023-12-31	$126.84M	-$25.78M	-$0.10
2022-12-31	$3.04M	-$39.05M	-$0.16
2020-12-31	-	-$107.03K	$0.00

Margins and returns by year

Period end	Net margin	Return on equity
2025-12-31	-367.17%	-102.07%
2024-12-31	-29.51%	-6.55%
2023-12-31	-20.32%	-5.25%
2022-12-31	-1,285.91%	-11.39%
2020-12-31	-	-7.94%

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

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-11-02	Sep 2026	-$0.31
2026-08-04	Jun 2026	-$0.21
2026-05-05	Mar 2026	-$0.27
2026-02-24	Dec 2025	-$0.12
2025-11-03	Sep 2025	-$0.08
2025-08-07	Jun 2025	-$0.12
2025-05-06	Mar 2025	-$0.11
2025-02-25	Dec 2024	-$0.10

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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