Cipher Mining Inc. (CIFR) 10-Year Financial Performance & Capital Metrics

CIFR • • Banking & Credit

Financial ServicesCapital MarketsCryptocurrency Mining & InfrastructureBitcoin Mining Operators

AboutCipher Mining Inc., a technology company, operates in the bitcoin mining ecosystem in the United States. It engages in developing and growing a cryptocurrency mining business that specializes in bitcoin. The company was incorporated in 2021 and is based in New York, New York.Show more

Net Interest Income $2M +191.3%
Total Revenue $151M +19.3%
Net Income -$45M -73.2%
Return on Equity -7.61% -23.1%
Net Interest Margin 0.2% +160.4%
Efficiency Ratio 47.47% -37.7%
ROA -6.28% -19.9%
Equity / Assets 79.72% -8.1%
Book Value per Share 2.11 +8.4%
Tangible BV/Share 2.08 +8.8%
Debt/Equity 0.08 +84.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Efficient operations: 47.5% efficiency ratio
✓Momentum leader: RS Rating 96 (top 4%)
✓Well capitalized: 79.7% equity/assets
✓Diversified revenue: 97.8% from non-interest income

✗Weaknesses

✗Weak Piotroski F-Score: 0/9
✗Weak NIM of 0.2%
✗Shares diluted 28.0% in last year
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-994.1%

EPS CAGR

10Y-

5Y-

3Y-

TTM-976.86%

ROCE

10Y Avg-15.6%

5Y Avg-15.6%

3Y Avg-7.2%

Latest-6.96%

Peer Comparison

Bitcoin Mining Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
IRENIREN Limited	17.04B	51.89	133.05	167.65%	17.35%	18.19%	0.53
RIOTRiot Platforms, Inc.	6.16B	16.57	48.74	34.2%	29.05%	4.68%	0.20
HUTHut 8 Corp.	6.19B	57.28	16.85	69.07%	204.38%	8.96%	0.35
BTBTBit Digital, Inc.	747.69M	2.31	11.55	264.59%	17.29%	13.1%	0.03
MARAMarathon Digital Holdings, Inc.	4.03B	10.66	6.20	69.38%	82.46%	17.91%	0.60
CLSKWCleanSpark, Inc.	123.65M	0.43	0.39	102.21%	47.56%	16.76%	0.38
ARBKArgo Blockchain plc	1.51M	4.54	-0.02	-15.95%	-113.58%
ABTCAmerican Bitcoin Corp	328.24M	1.68	-0.66	10.09%	6%	57.62%	0.01

Profit & Loss

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	27.34K	-25.09K	78K	-1.83M	1.68M
NII Growth %	-	-1.92%	4.11%	-24.53%	1.91%
Net Interest Margin %	-	-	-	-	-
Interest Income	27.34K	0	215K	164K	3.38M
Interest Expense	0	25.09K	137K	2M	1.71M
Loan Loss Provision	0	-20.22K	611K	48.31M	121.45M
Non-Interest Income+	-27.34K	0	2.82M	126.68M	147.89M
Non-Interest Income %	-	-	-	-	-
Total Revenue+	0	0	3.04M	126.84M	151.27M
Revenue Growth %	-	-	-	40.77%	0.19%
Non-Interest Expense	153.66K	72.15M	39.71M	96.65M	71.81M
Efficiency Ratio	-	-	-	-	-
Operating Income+	-153.66K	-72.15M	-37.42M	-20.11M	-43.7M
Operating Margin %	-	-	-	-	-
Operating Income Growth %	-	-468.56%	0.48%	0.46%	-1.17%
Pretax Income+	1.11M	-72.15M	-37.21M	-22.21M	-44.32M
Pretax Margin %	-	-	-	-	-
Income Tax+	0	0	1.84M	3.57M	318K
Effective Tax Rate %	-	-	-	-	-
Net Income+	1.11M	-72.15M	-39.05M	-25.78M	-44.63M
Net Margin %	-	-	-	-	-
Net Income Growth %	-	-65.89%	0.46%	0.34%	-0.73%
Net Income (Continuing)	1.11M	-72.15M	-39.05M	-25.78M	-44.63M
EPS (Diluted)+	-0.01	-0.36	-0.16	-0.10	-0.14
EPS Growth %	-	-	0.56%	0.38%	-0.4%
EPS (Basic)	-0.01	-0.36	-0.16	-0.10	-0.14
Diluted Shares Outstanding	214.78M	218.03M	248.23M	252.44M	323.1M

Balance Sheet

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	0	1000K	1000K	1000K	1000K
Cash & Due from Banks	0	209.84M	11.93M	86.11M	5.58M
Short Term Investments	0	0	0	0	0
Total Investments+	0	0	37.48M	35.26M	53.91M
Investments Growth %	-	-	-	-0.06%	0.53%
Long-Term Investments	0	0	37.48M	35.26M	53.91M
Accounts Receivables	0	0	98K	622K	596K
Goodwill & Intangibles+	-	-	-	-	-
Goodwill	0	0	0	0	0
Intangible Assets	0	0	596K	8.11M	8.88M
PP&E (Net)	1.64K	119.98M	269.29M	250.89M	532.3M
Other Assets	171.45K	10.53M	63.36M	116.38M	92.15M
Total Current Assets	0	223.66M	47.73M	155.5M	168.21M
Total Non-Current Assets	173.09K	130.51M	370.73M	410.64M	687.24M
Total Assets+	173.09K	354.17M	418.46M	566.14M	855.45M
Asset Growth %	-	2045.18%	0.18%	0.35%	0.51%
Return on Assets (ROA)	6.42%	-0.41%	-0.1%	-0.05%	-0.06%
Accounts Payable	1.92K	242K	17.37M	4.98M	22.7M
Total Debt+	0	0	20.66M	21.98M	56.39M
Net Debt	0	-209.84M	8.73M	-64.13M	50.8M
Long-Term Debt	0	0	0	0	0
Short-Term Debt	0	0	0	0	32.3M
Other Liabilities	0	136.8K	16.68M	18.39M	20.28M
Total Current Liabilities	176.57K	499.25K	40.33M	33.79M	131.78M
Total Non-Current Liabilities	0	136.8K	35.24M	41.01M	41.72M
Total Liabilities	176.57K	636.05K	75.57M	74.8M	173.49M
Total Equity+	-3.48K	353.53M	342.89M	491.34M	681.95M
Equity Growth %	-	101590.42%	-0.03%	0.43%	0.39%
Equity / Assets (Capital Ratio)	-	-	-	-	-
Return on Equity (ROE)	-	-0.41%	-0.11%	-0.06%	-0.08%
Book Value per Share	-0.00	1.62	1.38	1.95	2.11
Tangible BV per Share	-	-	-	-	-
Common Stock	200K	252.13K	251K	296K	361K
Additional Paid-in Capital	-200K	425.44M	453.85M	627.82M	863.01M
Retained Earnings	-3.48K	-72.16M	-111.21M	-136.78M	-181.41M
Accumulated OCI	0	0	0	0	0
Treasury Stock	0	-2.85K	-4K	-5K	-11K
Preferred Stock	0	0	0	0	0

Cash Flow

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-321.64K	-31.67M	-20.91M	-94.24M	-87.51M
Operating CF Growth %	-	-97.45%	0.34%	-3.51%	0.07%
Net Income	-107.03K	-72.15M	-39.05M	-25.78M	-44.63M
Depreciation & Amortization	0	4.87K	5.15M	59.91M	103.7M
Deferred Taxes	0	-69.57M	1.84M	3.37M	-937K
Other Non-Cash Items	-46.63K	63.75M	-31.18M	-159.48M	-206.11M
Working Capital Changes	-167.98K	-23.26M	822K	-10.73M	18.34M
Cash from Investing+	-170M	-120.14M	-173.91M	52.76M	-192.13M
Purchase of Investments	-170M	0	0	0	0
Sale/Maturity of Investments	0	0	0	1000K	0
Net Investment Activity	-	-	-	-	-
Acquisitions	0	0	0	-3.54M	0
Other Investing	0	-115.03M	53.41M	-502K	110.32M
Cash from Financing+	171.6M	361.65M	-3.09M	115.66M	213.51M
Dividends Paid	0	0	0	0	0
Share Repurchases	0	-25.36M	-3.09M	-3.9M	-27.64M
Stock Issued	171.6M	5	0	135.85M	225.18M
Net Stock Activity	-	-	-	-	-
Debt Issuance (Net)	0	0	0	-1000K	1000K
Other Financing	171.6M	361.65M	0	-3.4M	-3.49M
Net Change in Cash+	1.28M	208.56M	-197.91M	74.18M	-66.13M
Exchange Rate Effect	0	1000K	0	0	0
Cash at Beginning	0	1.28M	209.84M	11.93M	86.11M
Cash at End	1.28M	209.84M	11.93M	86.11M	19.98M
Interest Paid	0	0	0	0	0
Income Taxes Paid	0	0	0	0	0
Free Cash Flow+	-321.64K	-36.78M	-248.83M	-149.26M	-227.01M
FCF Growth %	-	-113.34%	-5.77%	0.4%	-0.52%

Banking Ratios

Metric	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	-40.82%	-11.22%	-6.18%	-7.61%
Return on Assets (ROA)	642.4%	-40.73%	-10.11%	-5.24%	-6.28%
Net Interest Margin	15.8%	-0.01%	0.02%	-0.32%	0.2%
Efficiency Ratio	-	-	1307.54%	76.2%	47.47%
Equity / Assets	-2.01%	99.82%	81.94%	86.79%	79.72%
Book Value / Share	-0	1.62	1.38	1.95	2.11
NII Growth	-	-191.77%	410.87%	-2452.56%	191.34%

Revenue by Segment

	2024
Bitcoin Mining	151.27M
Bitcoin Mining Growth	-

Frequently Asked Questions

Growth & Financials

Cipher Mining Inc. (CIFR) grew revenue by 19.3% over the past year. This is strong growth.

Cipher Mining Inc. (CIFR) reported a net loss of $154.0M for fiscal year 2024.

Dividend & Returns

Cipher Mining Inc. (CIFR) has a return on equity (ROE) of -7.6%. Negative ROE indicates the company is unprofitable.

Industry Metrics

Cipher Mining Inc. (CIFR) has a net interest margin (NIM) of 0.2%. NIM has been under pressure due to interest rate environment.

Cipher Mining Inc. (CIFR) has an efficiency ratio of 47.5%. This is excellent, indicating strong cost control.

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