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Cipher Digital, Inc. CIFR Reclassification of embedded derivative liability to equity

Reclassification of embedded derivative liability to equity at other companies

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$7.14M-34.8%
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Circle Internet Group, Inc.CRCL
-$4.14M-73.6%
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ALC
ALCCALCC

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

Reported directly by Cipher Digital, Inc. in its filing.

Tagged under the XBRL concept cifr:ReclassificationOfEmbeddedDerivativeLiabilityToEquity.

The official record: Cipher Digital, Inc. ’s 10-K, filed February 24, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Cipher Digital, Inc. 's reclassification of embedded derivative liability to equity?
Cipher Digital, Inc. (CIFR) reported reclassification of embedded derivative liability to equity of $184.25M in Q4 2025.
What does reclassification of embedded derivative liability to equity mean?
A non-cash accounting adjustment moving derivative liabilities into equity.
How do you interpret reclassification of embedded derivative liability to equity?
This is an accounting event rather than a cash flow; it indicates a change in the nature of financial obligations on the balance sheet.
How does reclassification of embedded derivative liability to equity compare across companies?
Specific to companies with complex convertible debt or derivative-heavy capital structures.