Comprehensive Stock Comparison
Compare Riot Platforms, Inc. (RIOT) 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 | 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
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.
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
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 | RIOTRiot Platforms, I… | CIFRCipher Mining Inc. |
|---|---|---|
| RevenueTrailing 12 months | $377M | $224M |
| EBITDAEarnings before interest/tax | $577M | $29M |
| Net IncomeAfter-tax profit | $164M | -$822M |
| Free Cash FlowCash after capex | -$1.5B | -$696M |
| Gross MarginGross profit ÷ Revenue | +30.2% | -60.5% |
| Operating MarginEBIT ÷ Revenue | +40.8% | -76.7% |
| Net MarginNet income ÷ Revenue | +29.0% | -3.7% |
| FCF MarginFCF ÷ Revenue | -4.0% | -3.1% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | +148.1% | -36.6% |
Valuation Metrics
On an enterprise value basis, RIOT's 17.5x EV/EBITDA is more attractive than CIFR's 199.0x.
| Metric | RIOTRiot Platforms, I… | CIFRCipher Mining Inc. |
|---|---|---|
| Market CapShares × price | $6.0B | $6.3B |
| Enterprise ValueMkt cap + debt − cash | $6.4B | $5.7B |
| Trailing P/EPrice ÷ TTM EPS | 47.91x | -7.26x |
| Forward P/EPrice ÷ next-FY EPS est. | — | — |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 17.45x | 199.04x |
| Price / SalesMarket cap ÷ Revenue | 16.05x | 28.21x |
| Price / BookPrice ÷ Book value/share | 1.65x | 7.12x |
| 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 | RIOTRiot Platforms, I… | CIFRCipher Mining Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +4.7% | -98.4% |
| ROA (TTM)Return on assets | +3.7% | -19.2% |
| ROICReturn on invested capital | +4.1% | -15.8% |
| ROCEReturn on capital employed | +5.4% | -8.0% |
| Piotroski ScoreFundamental quality 0–9 | 3 | 3 |
| Debt / EquityFinancial leverage | 0.20x | 0.07x |
| Net DebtTotal debt minus cash | $335M | -$573M |
| Cash & Equiv.Liquid assets | $278M | $628M |
| Total DebtShort + long-term debt | $613M | $55M |
| Interest CoverageEBIT ÷ Interest expense | 20.48x | -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 $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 | RIOTRiot Platforms, I… | CIFRCipher Mining Inc. |
|---|---|---|
| YTD ReturnYear-to-date | +15.0% | -3.7% |
| 1-Year ReturnPast 12 months | +75.5% | +282.4% |
| 3-Year ReturnCumulative with dividends | +160.6% | +926.3% |
| 5-Year ReturnCumulative with dividends | -69.6% | +50.7% |
| 10-Year ReturnCumulative with dividends | +540.4% | +57.6% |
| CAGR (3Y)Annualised 3-year return | +37.6% | +117.3% |
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 | RIOTRiot Platforms, I… | CIFRCipher Mining Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 2.35x | 2.81x |
| 52-Week HighHighest price in past year | $23.94 | $25.52 |
| 52-Week LowLowest price in past year | $6.19 | $1.86 |
| % of 52W HighCurrent price vs 52-week peak | +68.0% | +61.1% |
| RSI (14)Momentum oscillator 0–100 | 58.2 | 51.0 |
| Avg Volume (50D)Average daily shares traded | 16.2M | 25.2M |
Analyst Outlook
Wall Street rates RIOT as "Buy" and CIFR as "Buy". Consensus price targets imply 71.9% upside for RIOT (target: $28) vs 68.7% for CIFR (target: $26).
| Metric | RIOTRiot Platforms, I… | CIFRCipher Mining Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $28.00 | $26.31 |
| # AnalystsCovering analysts | 18 | 12 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | 3 | — |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +0.2% | +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 |
|---|---|---|---|
| Riot Platforms, Inc. (RIOT) | 100 | 465.65 | +365.7% |
| Cipher Mining Inc. (CIFR) | 100 | 159.7 | +59.7% |
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 |
|---|---|---|---|
| Riot Platforms, Inc. (RIOT) | $106115.00 | $377M | +354852.6% |
| Cipher Mining Inc. (CIFR) | $0.00 | $224M | — |
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Riot Platforms, Inc. (RIOT) | -40.3% | 29.0% | +172.1% |
| Cipher Mining Inc. (CIFR) | -12.9% | -3.7% | +71.4% |
Chart 4EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Riot Platforms, Inc. (RIOT) | -1.05 | 0.34 | +132.4% |
| Cipher Mining Inc. (CIFR) | -0.01 | -2.15 | -42900.0% |
Chart 5Free Cash Flow — 5 Years
Riot Platforms, Inc. generated $-2B FCF in 2024 (-200% vs 2021). Cipher Mining Inc. generated $-696M FCF in 2025 (-1792% vs 2021).
RIOT vs CIFR: Frequently Asked Questions
7 questions · data-driven answers · updated daily
01Is RIOT or CIFR 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 Riot Platforms, Inc. (RIOT) a "Buy" — based on 18 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 — RIOT or CIFR?
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 — RIOT or CIFR?
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 — RIOT or CIFR?
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 — RIOT or CIFR?
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 RIOT or CIFR 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 RIOT 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. 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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