Cipher Mining/$CIFR
1D1W1MYTD1Y5YMAX
Capital at risk
About Cipher Mining
Cipher Digital Inc is focused on high-performance computing (HPC) data center development and operations. It is engaged in developing and operating data centers designed for HPC workloads. Its operations include managing power assets and capital allocation in response to market conditions and demand for AI-related computing capacity.
- Ticker
- $CIFR
- Sector
- Software & Cloud Services
- Primary listing
- NASDAQ
- Employees
- 66
- Headquarters
- New York, United States
- Website
- www.cipherdigital.com
Cipher Mining Metrics
BasicAdvanced
$6.4B
-
-$2.79
3.17
-
Price and volume
Market cap
$6.4B
Beta
3.17
52-week high
$30.14
52-week low
$11.72
Average daily volume
34M
Financial strength
Current ratio
2.996
Quick ratio
0.618
Long term debt to equity
9.333
Total debt to equity
9.506
Interest coverage (TTM)
-0.34%
Profitability
EBITDA (TTM)
96.083
Gross margin (TTM)
-10.04%
Net profit margin (TTM)
-585.75%
Operating margin (TTM)
-28.42%
Effective tax rate (TTM)
0.32%
Revenue per employee (TTM)
$2,900,000
Management effectiveness
Return on assets (TTM)
-0.80%
Return on equity (TTM)
-167.48%
Valuation
Price to revenue (TTM)
32.468
Price to book
11.39
Price to tangible book (TTM)
13.2
Price to free cash flow (TTM)
-4.147
Free cash flow yield (TTM)
-24.11%
Free cash flow per share (TTM)
-3.728
Growth
Revenue change (TTM)
20.30%
Earnings per share change (TTM)
536.80%
3-year revenue growth (CAGR)
50.41%
3-year earnings per share growth (CAGR)
309.44%
What the Analysts think about Cipher Mining
Analyst ratings (Buy, Hold, Sell) for Cipher Mining stock.
Analyst projections of the future price of Cipher Mining stock.
Bulls say / Bears say
Cipher has moved beyond a Bitcoin-mining story, with three signed HPC leases expected to generate about $11.4 billion of contracted revenue and roughly $793 million of average annualised net operating income from October 2026 to September 2036. The tenants are investment-grade hyperscalers, which should make cash flow more predictable than mining revenue. (Cipher Digital, Cipher Digital)
Execution is beginning to validate the pivot: Cipher delivered the first Black Pearl HPC capacity two months early at the tenant’s request and started collecting rent in August. Barber Lake was also reported on schedule, giving investors near-term milestones for recurring revenue growth. (Cipher Digital, DCD)
Cipher secured $810 million of project-level debt at a 6% coupon to fund the Stingray data centre through substantial completion, reducing the immediate equity burden for that contracted project. Its wider portfolio has also expanded to about 5.3 GW, including an option for up to 900 MW near San Antonio. (Cipher Digital, Cipher Digital)
The reported business is still in a difficult transition: Q2 revenue fell to $25 million from $43.6 million a year earlier, adjusted EBITDA was negative $30 million, and the net loss reached $267.5 million. HPC rent had only just begun, so the promised lease income had not yet offset the decline in Bitcoin-mining revenue. (Cipher Digital, Cipher Digital)
The expansion carries substantial financial risk: long-term borrowings reached about $6.0 billion, while Q2 interest expense rose sharply and the company continued to report operating losses. Further growth or cost overruns could require additional equity, diluting shareholders despite management’s current forecast that no more equity is needed. (Cipher Digital, Trefis)
A sizeable part of the future pipeline depends on ERCOT’s interconnection process, whose Batch Zero decision was delayed after a request for an audit. Delays or adverse decisions could postpone new campuses and leave Cipher carrying construction, power-access and financing commitments before the related leases produce cash. (The Motley Fool, Cipher Digital)
Data summarised monthly by Lightyear AI. Last updated on 22 Sept 2026.
Cipher Mining Financial Performance
Revenues and expenses
Cipher Mining Earnings Performance
Company profitability
Upcoming events
No upcoming events
Cipher Mining News
AllArticlesVideos
Funds containing Cipher Mining
AllEURGBPUSD
Fund name | Fund size | $CIFR weighting |
|---|---|---|
VanEck Crypto And Blockchain Innovators€DAVV | €548M | 4.32% |
VanEck Crypto And Blockchain Innovators£DAGB | £635M | 4.32% |
Invesco CoinShares Global Blockchain£BCHS | £879M | 2.31% |
SPDR Russell 2000 US Small Cap€R2US | €4.8B | 0.18% |
SPDR Russell 2000 US Small Cap£R2SC | £4.1B | 0.18% |
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Real-time US market data is sourced from the IEX order book provided by Polygon. After-hours US market data is 15 minutes delayed and may differ significantly from the actual tradable price at market open.