Comprehensive Stock Comparison
Compare Bit Digital, Inc. (BTBT) vs Cipher Mining Inc. (CIFR) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | BTBT | 264.6% revenue growth vs CIFR's 48.0% |
| Quality / Margins | BTBT | 17.3% net margin vs CIFR's -367.2% |
| Stability / Safety | BTBT | Beta 1.83 vs CIFR's 2.81, lower leverage |
| Dividends | BTBT | 0.3% yield; CIFR pays no meaningful dividend |
| Momentum (1Y) | CIFR | +282.4% vs BTBT's -32.1% |
| Efficiency (ROA) | BTBT | 12.1% ROA vs CIFR's -19.2%, ROIC 6.5% vs -15.8% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Bit Digital is a bitcoin mining company that operates specialized computers to validate blockchain transactions and earn cryptocurrency rewards. It generates revenue primarily from bitcoin mining rewards (over 90% of revenue) and secondarily from treasury management of its bitcoin holdings. The company's competitive advantage lies in its strategic geographic diversification—with operations in North America and Asia—and access to low-cost renewable energy sources that improve mining profitability.
Cipher Mining is a Bitcoin mining company that operates large-scale data centers to validate transactions and earn newly minted Bitcoin. It generates revenue primarily from Bitcoin mining rewards — which account for nearly all its income — with a small portion from transaction fees. The company's competitive advantage lies in its strategic access to low-cost renewable energy in Texas and its vertically integrated operations that control both mining hardware and infrastructure.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
BTBT leads in 3 of 6 categories (Financial Metrics, Valuation Metrics). CIFR leads in 1 (Total Returns). 1 tied.
Financial Metrics (TTM)
CIFR and BTBT operate at a comparable scale, with $224M and $164M in trailing revenue. BTBT is the more profitable business, keeping 17.3% of every revenue dollar as net income compared to CIFR's -3.7%.
| Metric | BTBTBit Digital, Inc. | CIFRCipher Mining Inc. |
|---|---|---|
| RevenueTrailing 12 months | $164M | $224M |
| EBITDAEarnings before interest/tax | $166M | $29M |
| Net IncomeAfter-tax profit | $137M | -$822M |
| Free Cash FlowCash after capex | -$448M | -$696M |
| Gross MarginGross profit ÷ Revenue | +61.9% | -60.5% |
| Operating MarginEBIT ÷ Revenue | +16.8% | -76.7% |
| Net MarginNet income ÷ Revenue | +17.3% | -3.7% |
| FCF MarginFCF ÷ Revenue | -65.3% | -3.1% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | +2.8% | -36.6% |
Valuation Metrics
On an enterprise value basis, BTBT's 7.6x EV/EBITDA is more attractive than CIFR's 199.0x.
| Metric | BTBTBit Digital, Inc. | CIFRCipher Mining Inc. |
|---|---|---|
| Market CapShares × price | $538M | $6.3B |
| Enterprise ValueMkt cap + debt − cash | $457M | $5.7B |
| Trailing P/EPrice ÷ TTM EPS | 8.35x | -7.26x |
| Forward P/EPrice ÷ next-FY EPS est. | 139.17x | — |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 7.63x | 199.04x |
| Price / SalesMarket cap ÷ Revenue | 3.29x | 28.21x |
| Price / BookPrice ÷ Book value/share | 0.51x | 7.12x |
| Price / FCFMarket cap ÷ FCF | — | — |
Profitability & Efficiency
BTBT delivers a 13.1% return on equity — every $100 of shareholder capital generates $13 in annual profit, vs $-98 for CIFR. BTBT carries lower financial leverage with a 0.03x debt-to-equity ratio, signaling a more conservative balance sheet compared to CIFR's 0.07x. On the Piotroski fundamental quality scale (0–9), BTBT scores 6/9 vs CIFR's 3/9, reflecting solid financial health.
| Metric | BTBTBit Digital, Inc. | CIFRCipher Mining Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +13.1% | -98.4% |
| ROA (TTM)Return on assets | +12.1% | -19.2% |
| ROICReturn on invested capital | +6.5% | -15.8% |
| ROCEReturn on capital employed | +8.5% | -8.0% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 3 |
| Debt / EquityFinancial leverage | 0.03x | 0.07x |
| Net DebtTotal debt minus cash | -$81M | -$573M |
| Cash & Equiv.Liquid assets | $95M | $628M |
| Total DebtShort + long-term debt | $14M | $55M |
| Interest CoverageEBIT ÷ Interest expense | — | -5.25x |
Total Returns (with DRIP)
A $10,000 investment in CIFR five years ago would be worth $15,072 today (with dividends reinvested), compared to $1,009 for BTBT. Over the past 12 months, CIFR leads with a +282.4% total return vs BTBT's -32.1%. The 3-year compound annual growth rate (CAGR) favors CIFR at 117.3% vs BTBT's 9.8% — a key indicator of consistent wealth creation.
| Metric | BTBTBit Digital, Inc. | CIFRCipher Mining Inc. |
|---|---|---|
| YTD ReturnYear-to-date | -18.1% | -3.7% |
| 1-Year ReturnPast 12 months | -32.1% | +282.4% |
| 3-Year ReturnCumulative with dividends | +32.5% | +926.3% |
| 5-Year ReturnCumulative with dividends | -89.9% | +50.7% |
| 10-Year ReturnCumulative with dividends | -63.9% | +57.6% |
| CAGR (3Y)Annualised 3-year return | +9.8% | +117.3% |
Risk & Volatility
BTBT is the less volatile stock with a 1.83 beta — it tends to amplify market swings less than CIFR's 2.81 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. CIFR currently trades 61.1% from its 52-week high vs BTBT's 36.7% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | BTBTBit Digital, Inc. | CIFRCipher Mining Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.83x | 2.81x |
| 52-Week HighHighest price in past year | $4.55 | $25.52 |
| 52-Week LowLowest price in past year | $1.49 | $1.86 |
| % of 52W HighCurrent price vs 52-week peak | +36.7% | +61.1% |
| RSI (14)Momentum oscillator 0–100 | 46.2 | 51.0 |
| Avg Volume (50D)Average daily shares traded | 25.6M | 25.2M |
Analyst Outlook
Wall Street rates BTBT as "Buy" and CIFR as "Buy". Consensus price targets imply 199.4% upside for BTBT (target: $5) vs 68.7% for CIFR (target: $26). BTBT is the only dividend payer here at 0.34% yield — a key consideration for income-focused portfolios.
| Metric | BTBTBit Digital, Inc. | CIFRCipher Mining Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $5.00 | $26.31 |
| # AnalystsCovering analysts | 1 | 12 |
| Dividend YieldAnnual dividend ÷ price | +0.3% | — |
| Dividend StreakConsecutive years of raises | 0 | — |
| Dividend / ShareAnnual DPS | $0.01 | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +1.4% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Nov 20 | Feb 26 | Change |
|---|---|---|---|
| Bit Digital, Inc. (BTBT) | 100 | 51.05 | -48.9% |
| Cipher Mining Inc. (CIFR) | 100 | 159.7 | +59.7% |
Cipher Mining Inc. (CIFR) returned +51% over 5 years vs Bit Digital, Inc. (BTBT)'s -90%. A $10,000 investment in CIFR 5 years ago would be worth $15,072 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Bit Digital, Inc. (BTBT) | $4M | $164M | +4319.1% |
| Cipher Mining Inc. (CIFR) | $0.00 | $224M | — |
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Bit Digital, Inc. (BTBT) | 4.3% | 17.3% | +298.1% |
| Cipher Mining Inc. (CIFR) | -12.9% | -3.7% | +71.4% |
Chart 4EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Bit Digital, Inc. (BTBT) | 0.01 | 0.2 | +1701.8% |
| Cipher Mining Inc. (CIFR) | -0.01 | -2.15 | -42900.0% |
Chart 5Free Cash Flow — 5 Years
Bit Digital, Inc. generated $-107M FCF in 2024 (-53% vs 2021). Cipher Mining Inc. generated $-696M FCF in 2025 (-1792% vs 2021).
BTBT vs CIFR: Frequently Asked Questions
8 questions · data-driven answers · updated daily
01Is BTBT or CIFR a better buy right now?
Bit Digital, Inc. (BTBT) offers the better valuation at 8.3x trailing P/E (139.2x forward), making it the more compelling value choice. Analysts rate Bit Digital, Inc. (BTBT) a "Buy" — based on 1 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which is the better long-term investment — BTBT or CIFR?
Over the past 5 years, Cipher Mining Inc. (CIFR) delivered a total return of +50.7%, compared to -89.9% for Bit Digital, Inc. (BTBT). A $10,000 investment in CIFR five years ago would be worth approximately $15K today (assuming dividends reinvested). Over 10 years, the gap is even starker: CIFR returned +57.6% versus BTBT's -63.9%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — BTBT or CIFR?
By beta (market sensitivity over 5 years), Bit Digital, Inc. (BTBT) is the lower-risk stock at 1.83β versus Cipher Mining Inc.'s 2.81β — meaning CIFR is approximately 54% more volatile than BTBT relative to the S&P 500. On balance sheet safety, Bit Digital, Inc. (BTBT) carries a lower debt/equity ratio of 3% versus 7% for Cipher Mining Inc. — giving it more financial flexibility in a downturn.
04Which has better profit margins — BTBT or CIFR?
Bit Digital, Inc. (BTBT) is the more profitable company, earning 17.3% net margin versus -367.2% for Cipher Mining Inc. — meaning it keeps 17.3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: BTBT leads at 16.8% versus -76.7% for CIFR. At the gross margin level — before operating expenses — BTBT leads at 61.9%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
05Is BTBT or CIFR more undervalued right now?
Analyst consensus price targets imply the most upside for BTBT: 199.4% to $5.00.
06Which pays a better dividend — BTBT or CIFR?
In this comparison, BTBT (0.3% yield) pays a dividend. CIFR does not pay a meaningful dividend and should not be held primarily for income.
07Is BTBT or CIFR better for a retirement portfolio?
For long-horizon retirement investors, Bit Digital, Inc. (BTBT) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding. Cipher Mining Inc. (CIFR) carries a higher beta of 2.81 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (BTBT: -63.9%, CIFR: +57.6%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
08What are the main differences between BTBT and CIFR?
Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: BTBT is a small-cap deep-value stock; CIFR is a small-cap quality compounder stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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