What is Cipher Digital, Inc. 's market cap?

Cipher Digital, Inc. (CIFR) has a market capitalization of $8.9B and trades on NASDAQ.

What is Cipher Digital, Inc. 's revenue and profitability?

Cipher Digital, Inc. generated $209.8M in trailing twelve-month revenue with a net loss of $897.6M, representing a net margin of -427.8%. Gross margin stands at 60.0%, with free cash flow of -$1.0B. These figures are based on the Q1 2026 filing.

Who are Cipher Digital, Inc. 's competitors?

Cipher Digital, Inc. 's key competitors include TeraWulf Inc., Core Scientific, Inc., Applied Digital Corporation, and others. These companies compete in similar markets and product categories.

Who does Cipher Digital, Inc. partner with?

Cipher Digital, Inc. 's notable partners include Fluidstack USA II Inc., Google LLC, Amazon Web Services, Inc., and others.

What subsidiaries does Cipher Digital, Inc. have?

Cipher Digital, Inc. 's subsidiaries include Cipher Barber Lake LLC, Cipher Black Pearl LLC.

Where is Cipher Digital, Inc. headquartered?

Cipher Digital, Inc. is headquartered in United States of America and employs approximately 35 people. It has been publicly traded since 2021.

Cipher Digital, Inc.

CIFR

Cipher Digital Inc. is a vertically integrated developer and operator of industrial-scale data centers designed for high-performance computing (HPC) and artificial intelligence workloads.

Market cap

$8.86B+338%

Revenue$209.8M+38.0%

Net income-$897.6M-788%

Free cash flow-$1.0B-198%

EPS (diluted)-$2.33-703%

Trailing twelve months · change vs. prior year

Table of contents

Earnings

Q1 2026 report

May 5, 2026

Revenue$34.8MMiss by $1.3M EPS-$0.28Miss by $0.01

Read the full report

Next report

Aug 4, 2026 (In 6 days)

Revenue estimate$32.1M

EPS estimate-$0.24

Financials

Q1 2026

Income statement

See full

Revenue$34.8M-28.8%

Gross profit$17.1M-49.7%

Operating income-$114.6M-201%

Net income-$114.3M-193%

EPS (diluted)-$0.28-155%

Balance sheet

See full

Cash & equivalents$713.0M+1,798%

Total debt$4.7B+8,030%

Total equity$714.2M-2.8%

Total assets$6.4B+600%

Cash flow

See full

Operating cash flow$91.5M+294%

CapEx$554.0M+456%

Free cash flow-$462.5M-215%

Valuation & ratios

Valuation

See full

Market cap$8.86B+338%

Enterprise value$12.89B+437%

P/S42.2×+27.8×

Profitability

See full

Gross margin60%+1.0pp

Operating margin-237.4%—

Net margin-427.8%—

FCF margin-482%-3,491pp

Returns & leverage

See full

Return on equity-123.9%—

Debt / equity6.6×+6.6×

Current ratio3.1×+2.0×

Segments

By segment

See full

Bitcoin Mining$34.8M-28.8%

Competitors

By market cap

Equinix, Inc.$103.24B+33.0%

Digital Realty$72.4B+21.1%

Iris Energy$13.0B+223%

Hut 8 Mining Corp.$11.8B+456%

TeraWulf$8.9B+348%

Cipher Digital, Inc. $8.9B+287%

Applied Digital$7.5B+217%

Core Scientific, Inc.$6.6B+57.9%

By revenue growth

Applied Digital+300%

Hut 8 Mining Corp.+115%

Iris Energy+110%

Cipher Digital, Inc. +38.0%

TeraWulf+27.3%

Core Scientific, Inc.+26.4%

Digital Realty+22.4%

Equinix, Inc.+6.7%

By net margin

Digital Realty24.92%-8.8pp

Iris Energy20.88%+47.8pp

Equinix, Inc.15.07%+4.4pp

Applied Digital-31.99%+128pp

Hut 8 Mining Corp.-109.77%-69.8pp

Core Scientific, Inc.-237.57%-281pp

Cipher Digital, Inc. -427.79%-361pp

TeraWulf-611.46%-517pp

Profile

Cipher Digital Inc. is a vertically integrated developer and operator of industrial-scale data centers designed for high-performance computing (HPC) and artificial intelligence workloads. The company manages the entire lifecycle of data center infrastructure, from land and power origination to design, construction, and ongoing facility operations. While historically focused on bitcoin mining, the company is transitioning its core strategy toward leasing turnkey data center capacity to hyperscalers and enterprise customers under long-term contracts.

Competitive position

Cipher Digital is a specialized infrastructure player leveraging a 'power-first' sourcing strategy to secure large-scale grid interconnections in constrained markets like ERCOT.

GeographiesUnited States, Texas, Ohio

Customer segmentsHyperscale Enterprises, Technology Companies, Energy Markets

Business modelInfrastructure-as-a-Service, Long-term Leasing, Vertical Integration

SuppliersElectric Utilities, Power Generation Facilities, Electrical Equipment Manufacturers, Specialized Computing Hardware Suppliers

CustomersHyperscale Cloud Providers, AI Research Firms, Bitcoin Mining Pools, Wholesale Power Grid Operators

CountryUnited States of America

Listed2021

Employees35.0

CEORodney Tyler Page

SectorFinancial Services

IndustryFinancial - Capital Markets

Websiteciphermining.com

FilingsSEC EDGAR

Ask your AI about Cipher Digital, Inc. .

Connect your AI assistant and dig into the numbers, right in your chat.

Connect your AI

Claude

Questions, answered.

What is Cipher Digital, Inc. 's market cap?: Cipher Digital, Inc. (CIFR) has a market capitalization of $8.9B and trades on NASDAQ.
What is Cipher Digital, Inc. 's revenue and profitability?: Cipher Digital, Inc. generated $209.8M in trailing twelve-month revenue with a net loss of $897.6M, representing a net margin of -427.8%. Gross margin stands at 60.0%, with free cash flow of -$1.0B. These figures are based on the Q1 2026 filing.
Who are Cipher Digital, Inc. 's competitors?: Cipher Digital, Inc. 's key competitors include TeraWulf Inc., Core Scientific, Inc., Applied Digital Corporation, and others. These companies compete in similar markets and product categories.
Who does Cipher Digital, Inc. partner with?: Cipher Digital, Inc. 's notable partners include Fluidstack USA II Inc., Google LLC, Amazon Web Services, Inc., and others.
What subsidiaries does Cipher Digital, Inc. have?: Cipher Digital, Inc. 's subsidiaries include Cipher Barber Lake LLC, Cipher Black Pearl LLC.
Where is Cipher Digital, Inc. headquartered?: Cipher Digital, Inc. is headquartered in United States of America and employs approximately 35 people. It has been publicly traded since 2021.