Comprehensive Stock Comparison
Compare Cipher Mining Inc. (CIFR) vs Riot Platforms, Inc. (RIOT) 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 RIOT's 34.2% |
| Quality / Margins | RIOT | 29.0% net margin vs CIFR's -367.2% |
| Stability / Safety | RIOT | Beta 2.35 vs CIFR's 2.81 |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | CIFR | +282.4% vs RIOT's +75.5% |
| Efficiency (ROA) | RIOT | 3.7% ROA vs CIFR's -19.2%, ROIC 4.1% 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.
Riot Platforms is a Bitcoin mining company that operates large-scale mining facilities in Texas and Kentucky. It generates revenue primarily from Bitcoin mining rewards (the majority of income) and secondarily from engineering services — designing and manufacturing power distribution equipment for data centers and industrial clients. The company's competitive advantage lies in its vertically integrated operations — owning its mining facilities and power infrastructure — which provides cost control and operational efficiency in the energy-intensive mining business.
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
RIOT leads in 4 of 6 categories (Financial Metrics, Valuation Metrics). CIFR leads in 1 (Total Returns).
Financial Metrics (TTM)
RIOT is the larger business by revenue, generating $377M annually — 1.7x CIFR's $224M. RIOT is the more profitable business, keeping 29.0% of every revenue dollar as net income compared to CIFR's -3.7%.
| Metric | CIFRCipher Mining Inc. | RIOTRiot Platforms, I… |
|---|---|---|
| RevenueTrailing 12 months | $224M | $377M |
| EBITDAEarnings before interest/tax | $29M | $577M |
| Net IncomeAfter-tax profit | -$822M | $164M |
| Free Cash FlowCash after capex | -$696M | -$1.5B |
| Gross MarginGross profit ÷ Revenue | -60.5% | +30.2% |
| Operating MarginEBIT ÷ Revenue | -76.7% | +40.8% |
| Net MarginNet income ÷ Revenue | -3.7% | +29.0% |
| FCF MarginFCF ÷ Revenue | -3.1% | -4.0% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | -36.6% | +148.1% |
Valuation Metrics
On an enterprise value basis, RIOT's 17.5x EV/EBITDA is more attractive than CIFR's 199.0x.
| Metric | CIFRCipher Mining Inc. | RIOTRiot Platforms, I… |
|---|---|---|
| Market CapShares × price | $6.3B | $6.0B |
| Enterprise ValueMkt cap + debt − cash | $5.7B | $6.4B |
| Trailing P/EPrice ÷ TTM EPS | -7.26x | 47.91x |
| Forward P/EPrice ÷ next-FY EPS est. | — | — |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 199.04x | 17.45x |
| Price / SalesMarket cap ÷ Revenue | 28.21x | 16.05x |
| Price / BookPrice ÷ Book value/share | 7.12x | 1.65x |
| Price / FCFMarket cap ÷ FCF | — | — |
Profitability & Efficiency
RIOT delivers a 4.7% return on equity — every $100 of shareholder capital generates $5 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 RIOT's 0.20x.
| Metric | CIFRCipher Mining Inc. | RIOTRiot Platforms, I… |
|---|---|---|
| ROE (TTM)Return on equity | -98.4% | +4.7% |
| ROA (TTM)Return on assets | -19.2% | +3.7% |
| ROICReturn on invested capital | -15.8% | +4.1% |
| ROCEReturn on capital employed | -8.0% | +5.4% |
| Piotroski ScoreFundamental quality 0–9 | 3 | 3 |
| Debt / EquityFinancial leverage | 0.07x | 0.20x |
| Net DebtTotal debt minus cash | -$573M | $335M |
| Cash & Equiv.Liquid assets | $628M | $278M |
| Total DebtShort + long-term debt | $55M | $613M |
| Interest CoverageEBIT ÷ Interest expense | -5.25x | 20.48x |
Total Returns (with DRIP)
A $10,000 investment in CIFR five years ago would be worth $15,072 today (with dividends reinvested), compared to $3,039 for RIOT. Over the past 12 months, CIFR leads with a +282.4% total return vs RIOT's +75.5%. The 3-year compound annual growth rate (CAGR) favors CIFR at 117.3% vs RIOT's 37.6% — a key indicator of consistent wealth creation.
| Metric | CIFRCipher Mining Inc. | RIOTRiot Platforms, I… |
|---|---|---|
| YTD ReturnYear-to-date | -3.7% | +15.0% |
| 1-Year ReturnPast 12 months | +282.4% | +75.5% |
| 3-Year ReturnCumulative with dividends | +926.3% | +160.6% |
| 5-Year ReturnCumulative with dividends | +50.7% | -69.6% |
| 10-Year ReturnCumulative with dividends | +57.6% | +540.4% |
| CAGR (3Y)Annualised 3-year return | +117.3% | +37.6% |
Risk & Volatility
RIOT is the less volatile stock with a 2.35 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. RIOT currently trades 68.0% 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. | RIOTRiot Platforms, I… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 2.81x | 2.35x |
| 52-Week HighHighest price in past year | $25.52 | $23.94 |
| 52-Week LowLowest price in past year | $1.86 | $6.19 |
| % of 52W HighCurrent price vs 52-week peak | +61.1% | +68.0% |
| RSI (14)Momentum oscillator 0–100 | 51.0 | 58.2 |
| Avg Volume (50D)Average daily shares traded | 25.2M | 16.2M |
Analyst Outlook
Wall Street rates CIFR as "Buy" and RIOT as "Buy". Consensus price targets imply 71.9% upside for RIOT (target: $28) vs 68.7% for CIFR (target: $26).
| Metric | CIFRCipher Mining Inc. | RIOTRiot Platforms, I… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $26.31 | $28.00 |
| # AnalystsCovering analysts | 12 | 18 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | — | 3 |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +1.4% | +0.2% |
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% |
| Riot Platforms, Inc. (RIOT) | 100 | 465.65 | +365.7% |
Cipher Mining Inc. (CIFR) returned +51% over 5 years vs Riot Platforms, Inc. (RIOT)'s -70%. 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 | — |
| Riot Platforms, Inc. (RIOT) | $106115.00 | $377M | +354852.6% |
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Cipher Mining Inc. (CIFR) | -12.9% | -3.7% | +71.4% |
| Riot Platforms, Inc. (RIOT) | -40.3% | 29.0% | +172.1% |
Chart 4EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Cipher Mining Inc. (CIFR) | -0.01 | -2.15 | -42900.0% |
| Riot Platforms, Inc. (RIOT) | -1.05 | 0.34 | +132.4% |
Chart 5Free Cash Flow — 5 Years
Cipher Mining Inc. generated $-696M FCF in 2025 (-1792% vs 2021). Riot Platforms, Inc. generated $-2B FCF in 2024 (-200% vs 2021).
CIFR vs RIOT: Frequently Asked Questions
7 questions · data-driven answers · updated daily
01Is CIFR or RIOT a better buy right now?
Riot Platforms, Inc. (RIOT) offers the better valuation at 47.9x trailing P/E, making it the more compelling value choice. 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 RIOT?
Over the past 5 years, Cipher Mining Inc. (CIFR) delivered a total return of +50.7%, compared to -69.6% for Riot Platforms, Inc. (RIOT). 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: RIOT returned +540.4% 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 RIOT?
By beta (market sensitivity over 5 years), Riot Platforms, Inc. (RIOT) is the lower-risk stock at 2.35β versus Cipher Mining Inc.'s 2.81β — meaning CIFR is approximately 19% more volatile than RIOT relative to the S&P 500. On balance sheet safety, Cipher Mining Inc. (CIFR) carries a lower debt/equity ratio of 7% versus 20% for Riot Platforms, Inc. — giving it more financial flexibility in a downturn.
04Which has better profit margins — CIFR or RIOT?
Riot Platforms, Inc. (RIOT) is the more profitable company, earning 29.0% net margin versus -367.2% for Cipher Mining Inc. — meaning it keeps 29.0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: RIOT leads at 40.8% versus -76.7% for CIFR. At the gross margin level — before operating expenses — RIOT leads at 30.2%, 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 RIOT?
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 RIOT better for a retirement portfolio?
For long-horizon retirement investors, Riot Platforms, Inc. (RIOT) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (+540.4% 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 (RIOT: +540.4%, 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 RIOT?
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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