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Discontinued — last reported Q1 '26

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Other financials

Income statement

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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

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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

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Operating cash flow$91.5M+294%
CapEx$554.0M+456%
Free cash flow-$462.5M-215%

Valuation

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Market cap$11.94B+527%
Enterprise value$15.97B+985%
P/S56.9×+44.4×

Profitability

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Gross margin60%+1.0pp
Operating margin-237.4%
Net margin-427.8%
FCF margin-482%-3,491pp

Returns & leverage

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Return on equity-123.9%
Debt / equity6.6×+6.6×
Current ratio3.1×+2.0×

Where this comes from

Calculated from Cipher Digital, Inc. ’s reported figures.

$114.6Mebit+
$19.0MDepreciation Depletion & Amortization
=-$95.56M

The official record: Cipher Digital, Inc. ’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Cipher Digital, Inc. 's EBITDA?
Cipher Digital, Inc. (CIFR) reported EBITDA of -$95.56M in Q1 2026.
How has Cipher Digital, Inc. 's EBITDA changed year-over-year?
Cipher Digital, Inc. 's EBITDA decreased by 1876.4% year-over-year, from $5.38M to -$95.56M.
What is the long-term trend for Cipher Digital, Inc. 's EBITDA?
Over 2 years (2021 to 2025), Cipher Digital, Inc. 's EBITDA has grown at a 70.4% compound annual growth rate (CAGR), from -$76.46M to -$221.99M.
What does EBITDA mean?
Operating cash profit before interest, taxes, and non-cash charges.
How do you interpret EBITDA?
Higher is better and widely used to value capital-intensive businesses, but it ignores the real cost of capex — pair it with free cash flow. (Defined as EBIT + D&A so EBITDA = EBIT + D&A holds exactly.)
How does EBITDA compare across companies?
Standard cross-company operating-profit proxy for non-financials; not meaningful for banks and insurers.