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NASDAQ · FINANCE SERVICES · LARGE CAP

Cipher Digital Inc. CIFR

5 fiscal years on record · USD · FY2025 reported · SEC filings only
$223.9M
▲ 48.0% YoY
$-822.2M
$-695.9M

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Cipher Digital Inc. has evolved over the past several years from a pure-play bitcoin miner into a vertically integrated data center development and operations platform focused on energy-intensive compute infrastructure. Its vertical integration spans critical stages of the data center value chain, including land and power origination and interconnection, site development, data center design and construction, and ongoing facility operations. Its data center portfolio consists of 4.2 gigawatts of capacity across 10 sites, at various stages of interconnection. It is developing 600 megawatts of HPC data center facilities across two sites for hyperscaler tenants and operates approximately 207 MW of power at one bitcoin mining data center in Texas. The majority of its data centers are located in Texas. As of the filing date, it had 66 full-time employees, including officers. Cipher Mining Inc. was incorporated as a Delaware corporation on August 27, 2021, upon completion of a business combination in which Good Works Acquisition Corp., a special purpose acquisition company, merged a wholly-owned subsidiary with and into Cipher Mining Technologies Inc.

Written from the business description in Cipher Digital Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 24 February 2026. Every sentence was checked against that document before publication.

Growth

USD 223.9M
Revenue, FY2025 · full 5-year series below
Revenue $M Net income $M
FY2025 · Revenue 223.9 · Net income -822.2
100M200M-300M-600M
202020242025
Compound annual growth
+319.3%
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

−367 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -188.2% · Net -367.2%
-500%-1000%
202020232025
ROE
FY2025 · ROE -110.6%
-50%-100%
202020232025
Three returns, three denominators.
Gross margin63.7%
Operating margin-188.2%
Net margin-367.2%
EBITDAUSD -222.6M

Each USD of equity lost 111 cents this year.

Cash & shareholders

USD 0.00
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -695.9
-250.0M-500.0M
202020232025
Net buybacks $M Dividends $M
FY2025 · Dividends · · Net buybacks -105.9
-100M-200M
2022202320242025

Total assetsUSD 4.3B
EquityUSD 805.5M
CashUSD 628.3M
Gross debtUSD 2.7B
Net debtUSD 2.1B
Current ratio3.79×

Net debt stands at 263% of equity.

The 5-year record

5 fiscal years
Every figure from documents filed with the SEC · USD

The share count changed between 2020 and 2021, but the exact year can't be marked here — the underlying count wasn't on file for every year in that stretch.

row low → row highnegative—not applicable◌not available in our data
CIFR, 5-year financial record
Metric 20252024202320222020
Revenue $B0.20.20.10.0◌
Operating income $B−0.4−0.0−0.0−0.0−0.0
EBITDA $B−0.20.10.0−0.0◌
Income tax $B−0.00.00.00.0◌
Net income $B−0.8−0.0−0.0−0.0−0.0
Free cash flow $B−0.7−0.2−0.1−0.1◌
EPS, diluted $−2.15−0.14−0.10−0.16◌
Dividend / sh $◌◌◌◌◌
Payout % — not applicable: no dividend—————
ROE %−110.6−7.6−6.2−11.2—
Shares out B0.400.350.290.250.02

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

More in this sector

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Provenance

Company facts, as filed

How we verify · 0 failures in 22 reconciliationsAUDITED

Reconciled in 5 of the 5 fiscal years we could check. 26 checks were skipped: the balance sheet is not tagged before 2020. 15 checks were skipped: EPS is not tagged before 2022. 15 checks were skipped: revenue is not tagged before 2022.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityFinance Services
Listed onNASDAQ
Incorporated innot stated in the filings
Fiscal year endsDecember 31
Data on record since2020

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