Comprehensive Stock Comparison
Compare Cipher Mining Inc. (CIFR) vs Hut 8 Corp. (HUT) 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 | CIFR | 48.0% revenue growth vs HUT's 44.8% |
| Quality / Margins | HUT | -96.2% net margin vs CIFR's -367.2% |
| Stability / Safety | HUT | Beta 2.67 vs CIFR's 2.81 |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | CIFR | +282.4% vs HUT's +260.9% |
| Efficiency (ROA) | HUT | -8.2% ROA vs CIFR's -19.2%, ROIC -14.0% 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
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.
Hut 8 is a vertically integrated Bitcoin mining company that operates large-scale data centers powered by energy infrastructure. It generates revenue primarily from Bitcoin mining rewards — converting electricity into digital assets — with additional income from high-performance computing services. The company's key advantage is its vertically integrated model combining energy infrastructure ownership with mining operations, which provides cost control and operational efficiency.
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
HUT leads in 3 of 6 categories (Financial Metrics, Valuation Metrics). CIFR leads in 2 (Profitability & Efficiency, Total Returns).
Financial Metrics (TTM)
HUT and CIFR operate at a comparable scale, with $235M and $224M in trailing revenue. Profitability is closely matched — net margins range from -96.2% (HUT) to -3.7% (CIFR).
| Metric | CIFRCipher Mining Inc. | HUTHut 8 Corp. |
|---|---|---|
| RevenueTrailing 12 months | $224M | $235M |
| EBITDAEarnings before interest/tax | $29M | -$220M |
| Net IncomeAfter-tax profit | -$822M | -$226M |
| Free Cash FlowCash after capex | -$696M | -$342M |
| Gross MarginGross profit ÷ Revenue | -60.5% | +91.3% |
| Operating MarginEBIT ÷ Revenue | -76.7% | -136.9% |
| Net MarginNet income ÷ Revenue | -3.7% | -96.2% |
| FCF MarginFCF ÷ Revenue | -3.1% | -145.5% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | -36.6% | -5.5% |
Valuation Metrics
| Metric | CIFRCipher Mining Inc. | HUTHut 8 Corp. |
|---|---|---|
| Market CapShares × price | $6.3B | $5.9B |
| Enterprise ValueMkt cap + debt − cash | $5.7B | $6.2B |
| Trailing P/EPrice ÷ TTM EPS | -7.26x | -24.87x |
| Forward P/EPrice ÷ next-FY EPS est. | — | — |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 199.04x | — |
| Price / SalesMarket cap ÷ Revenue | 28.21x | 24.92x |
| Price / BookPrice ÷ Book value/share | 7.12x | 3.32x |
| Price / FCFMarket cap ÷ FCF | — | — |
Profitability & Efficiency
HUT delivers a -13.4% return on equity — every $100 of shareholder capital generates $-13 in annual profit, vs $-98 for CIFR. CIFR carries lower financial leverage with a 0.07x debt-to-equity ratio, signaling a more conservative balance sheet compared to HUT's 0.25x.
| Metric | CIFRCipher Mining Inc. | HUTHut 8 Corp. |
|---|---|---|
| ROE (TTM)Return on equity | -98.4% | -13.4% |
| ROA (TTM)Return on assets | -19.2% | -8.2% |
| ROICReturn on invested capital | -15.8% | -14.0% |
| ROCEReturn on capital employed | -8.0% | -17.2% |
| Piotroski ScoreFundamental quality 0–9 | 3 | 3 |
| Debt / EquityFinancial leverage | 0.07x | 0.25x |
| Net DebtTotal debt minus cash | -$573M | $384M |
| Cash & Equiv.Liquid assets | $628M | $45M |
| Total DebtShort + long-term debt | $55M | $429M |
| Interest CoverageEBIT ÷ Interest expense | -5.25x | -10.71x |
Total Returns (with DRIP)
A $10,000 investment in CIFR five years ago would be worth $15,072 today (with dividends reinvested), compared to $11,764 for HUT. Over the past 12 months, CIFR leads with a +282.4% total return vs HUT's +260.9%. The 3-year compound annual growth rate (CAGR) favors CIFR at 117.3% vs HUT's 86.2% — a key indicator of consistent wealth creation.
| Metric | CIFRCipher Mining Inc. | HUTHut 8 Corp. |
|---|---|---|
| YTD ReturnYear-to-date | -3.7% | +3.8% |
| 1-Year ReturnPast 12 months | +282.4% | +260.9% |
| 3-Year ReturnCumulative with dividends | +926.3% | +545.2% |
| 5-Year ReturnCumulative with dividends | +50.7% | +17.6% |
| 10-Year ReturnCumulative with dividends | +57.6% | +195.9% |
| CAGR (3Y)Annualised 3-year return | +117.3% | +86.2% |
Risk & Volatility
HUT is the less volatile stock with a 2.67 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. HUT currently trades 80.6% from its 52-week high vs CIFR's 61.1% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | CIFRCipher Mining Inc. | HUTHut 8 Corp. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 2.81x | 2.67x |
| 52-Week HighHighest price in past year | $25.52 | $66.07 |
| 52-Week LowLowest price in past year | $1.86 | $10.04 |
| % of 52W HighCurrent price vs 52-week peak | +61.1% | +80.6% |
| RSI (14)Momentum oscillator 0–100 | 51.0 | 50.1 |
| Avg Volume (50D)Average daily shares traded | 25.2M | 4.7M |
Analyst Outlook
Wall Street rates CIFR as "Buy" and HUT as "Buy". Consensus price targets imply 68.7% upside for CIFR (target: $26) vs 31.7% for HUT (target: $70).
| Metric | CIFRCipher Mining Inc. | HUTHut 8 Corp. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $26.31 | $70.10 |
| # AnalystsCovering analysts | 12 | 14 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | — | — |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +1.4% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Oct 20 | Feb 26 | Change |
|---|---|---|---|
| Cipher Mining Inc. (CIFR) | 100 | 159.7 | +59.7% |
| Hut 8 Corp. (HUT) | 100 | 1,182.74 | +1082.7% |
Cipher Mining Inc. (CIFR) returned +51% over 5 years vs Hut 8 Corp. (HUT)'s +18%. 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 |
|---|---|---|---|
| Cipher Mining Inc. (CIFR) | $0.00 | $224M | — |
| Hut 8 Corp. (HUT) | $0.00 | $235M | — |
Hut 8 Corp.'s revenue grew from $0M (2016) to $235M (2025) — a 0.0% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Cipher Mining Inc. (CIFR) | -12.9% | -3.7% | +71.4% |
| Hut 8 Corp. (HUT) | 8.4% | -96.2% | -1243.1% |
Hut 8 Corp.'s net margin went from 8% (2017) to -96% (2025).
Chart 4P/E Ratio History — 4 Years
| Stock | 2019 | 2024 | Change |
|---|---|---|---|
| Hut 8 Corp. (HUT) | 39.2 | 6 | -84.7% |
Hut 8 Corp. has traded in a 6x–39x P/E range over 4 years; current trailing P/E is ~-25x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Cipher Mining Inc. (CIFR) | -0.01 | -2.15 | -42900.0% |
| Hut 8 Corp. (HUT) | -9.32 | -2.14 | +77.0% |
Hut 8 Corp.'s EPS grew from $-9.32 (2016) to $-2.14 (2025).
Chart 6Free Cash Flow — 5 Years
Cipher Mining Inc. generated $-696M FCF in 2025 (-1792% vs 2021). Hut 8 Corp. generated $-342M FCF in 2025 (-105% vs 2021).
CIFR vs HUT: Frequently Asked Questions
7 questions · data-driven answers · updated daily
01Is CIFR or HUT a better buy right now?
Analysts rate Cipher Mining Inc. (CIFR) a "Buy" — based on 12 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 — CIFR or HUT?
Over the past 5 years, Cipher Mining Inc. (CIFR) delivered a total return of +50.7%, compared to +17.6% for Hut 8 Corp. (HUT). 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: HUT returned +195.9% versus CIFR's +57.6%. 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 — CIFR or HUT?
By beta (market sensitivity over 5 years), Hut 8 Corp. (HUT) is the lower-risk stock at 2.67β versus Cipher Mining Inc.'s 2.81β — meaning CIFR is approximately 5% more volatile than HUT relative to the S&P 500. On balance sheet safety, Cipher Mining Inc. (CIFR) carries a lower debt/equity ratio of 7% versus 25% for Hut 8 Corp. — giving it more financial flexibility in a downturn.
04Which has better profit margins — CIFR or HUT?
Hut 8 Corp. (HUT) is the more profitable company, earning -96.2% net margin versus -367.2% for Cipher Mining Inc. — meaning it keeps -96.2% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: CIFR leads at -76.7% versus -136.9% for HUT. At the gross margin level — before operating expenses — HUT leads at 91.3%, 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.
05Which pays a better dividend — CIFR or HUT?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
06Is CIFR or HUT better for a retirement portfolio?
For long-horizon retirement investors, Hut 8 Corp. (HUT) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (+195.9% 10Y return). 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 (HUT: +195.9%, 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.
07What are the main differences between CIFR and HUT?
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. 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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