8-K Announcements
6Material company update
May 5, 2026·SEC
Material company update
Mar 25, 2026·SEC
Material company update
Feb 24, 2026·SEC
Cipher Mining Inc.(CIFR)Earnings, Financials & Key Ratios
CIFR•NASDAQ•Banking & Credit
$22.10
$8.97B mkt cap·Price updated May 6, 2026
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-$17M-1119.1%
- Total Revenue$224M+48.0%
- Net Income-$822M-1742.2%
- Return on Equity-108.35%-1324.0%
- Net Interest Margin-0.4%-303.1%
- Efficiency Ratio16.25%-65.8%
- ROA-31.95%-408.8%
- Equity / Assets19.48%-75.6%
- Book Value per Share2.19+3.8%
- Tangible BV/Share1.99-4.6%
- Debt/Equity3.31+3903.5%
CIFR Key Insights
Cipher Mining Inc. (CIFR) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Efficient operations: 16.2% efficiency ratio
- ✓Momentum leader: RS Rating 86 (top 14%)
- ✓Well capitalized: 19.5% equity/assets
- ✓Diversified revenue: 91.3% from non-interest income
✗Weaknesses
- ✗High debt to equity ratio of 3.3x
- ✗Weak Piotroski F-Score: 2/9
- ✗Weak NIM of -0.4%
- ✗Shares diluted 18.1% in last year
- ✗Expensive at 10.1x book value
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
CIFR Price & Volume
Cipher Mining Inc. (CIFR) stock price & volume — 10-year historical chart
Loading chart...
CIFR Growth Metrics
Cipher Mining Inc. (CIFR) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years319.34%
TTM-
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-626.73%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-541.71%
Return on Capital
10 Years-14.07%
5 Years-14.07%
3 Years-6.45%
Last Year-7.96%
CIFR Recent Earnings
Cipher Mining Inc. (CIFR) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 4/12 qtrs (33%)●Beat Revenue 1/12 qtrs (8%)
Q2 2026Latest
May 5, 2026EPS
$0.28
Est $0.27
-3.7%
Revenue
$35M
Est $36M
-3.5%
Q1 2026
Feb 24, 2026EPS
$1.92
Est $0.12
-1500.0%
Revenue
$60M
Est $86M
-30.3%
Q4 2025
Nov 3, 2025EPS
$0.01
Est $0.08
+87.5%
Revenue
$72M
Est $87M
-17.7%
Q3 2025
Aug 7, 2025EPS
$0.12
Est $0.12
+0.0%
Revenue
$44M
Est $79M
-44.8%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 5, 2026 | $0.28vs $0.27-3.7% | $35Mvs $36M-3.5% |
| Q1 2026 | Feb 24, 2026 | $1.92vs $0.12-1500.0% | $60Mvs $86M-30.3% |
| Q4 2025 | Nov 3, 2025 | $0.01vs $0.08+87.5% | $72Mvs $87M-17.7% |
| Q3 2025 | Aug 7, 2025 | $0.12vs $0.12+0.0% | $44Mvs $79M-44.8% |
Based on last 12 quarters of dataView full earnings history →
CIFR Peer Comparison
Cipher Mining Inc. (CIFR) competitors in Bitcoin Mining and Data Centers — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 MARA | 4.62B | 12.16 | -3.30 | 38.2% | -144.58% | -30.54% | 1.05 | |
 RIOT | 7.71B | 20.35 | -10.43 | 71.89% | -102.43% | -28.78% | 0.10 | |
 CLSK | 3.43B | 13.41 | 11.97 | 102.21% | -33.25% | -13.75% | 0.38 | |
 BITF | 1.29B | 2.16 | -16.62 | 31.78% | -28.03% | -21.32% | 0.04 | |
 HUT | 8.86B | 80.50 | -37.61 | 44.79% | -96.19% | -13.39% | 0.25 | |
 IREN | 18.19B | 54.74 | 140.36 | 167.65% | 17.35% | -0.64% | 0.53 | |
 CORZ | 6.97B | 22.19 | -25.22 | -37.53% | -90.47% | |||
 BTBT | 576.6M | 1.79 | 8.95 | 264.59% | 17.29% | 21.41% | 0.03 |
Compare CIFR vs Peers
Cipher Mining Inc. (CIFR) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
CIFR Income Statement
Cipher Mining Inc. (CIFR) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|
| Net Interest Income | 27.34K | -25.09K | 78K | -1.83M | 1.68M | -17.08M | -12.66M |
| NII Growth % | - | -191.77% | 410.87% | -2452.56% | 191.34% | -1119.09% | -4940.84% |
| Net Interest Margin % | 15.8% | -0.01% | 0.02% | -0.32% | 0.2% | -0.4% | -0.2% |
| Interest Income | 27.34K | 0 | 215K | 164K | 3.38M | 19.48M | 50.88M |
| Interest Expense | 0 | 25.09K | 137K | 2M | 1.71M | 36.56M | -27.2M |
| Loan Loss Provision | 0 | -20.22K | 611K | 48.31M | 121.45M | 322.76M | 375.03M |
| Non-Interest Income | -27.34K | 0 | 2.82M | 126.68M | 147.89M | 204.46M | 124.1M |
| Non-Interest Income % | - | - | 92.92% | 99.87% | 97.76% | 91.3% | 70.92% |
| Total Revenue | 0▲ 0% | 0▲ 0% | 3.04M▲ 0% | 126.84M▲ 4076.6% | 151.27M▲ 19.3% | 223.94M▲ 48.0% | 174.98M▲ 0% |
| Revenue Growth % | - | - | - | 4076.56% | 19.26% | 48.04% | 157.29% |
| Non-Interest Expense | 153.66K | 72.15M | 39.71M | 96.65M | 71.81M | 36.38M | -9.73M |
| Efficiency Ratio | - | - | 1307.54% | 76.2% | 47.47% | 16.25% | -5.56% |
| Operating Income | -153.66K▲ 0% | -72.15M▼ 46856.4% | -37.42M▲ 48.1% | -20.11M▲ 46.2% | -43.7M▼ 117.2% | -171.76M▼ 293.0% | -163.12M▲ 0% |
| Operating Margin % | - | - | -1232.17% | -15.86% | -28.89% | -76.7% | -93.22% |
| Operating Income Growth % | - | -46856.41% | 48.14% | 46.25% | -117.25% | -293.05% | - |
| Pretax Income | 1.11M▲ 0% | -72.15M▼ 6589.0% | -37.21M▲ 48.4% | -22.21M▲ 40.3% | -44.32M▼ 99.5% | -823.2M▼ 1757.5% | -901.45M▲ 0% |
| Pretax Margin % | - | - | -1225.32% | -17.51% | -29.3% | -367.6% | -515.16% |
| Income Tax | 0 | 0 | 1.84M | 3.57M | 318K | -3.31M | -3.86M |
| Effective Tax Rate % | 0% | 0% | -4.94% | -16.06% | -0.72% | 0.4% | 0.43% |
| Net Income | 1.11M▲ 0% | -72.15M▼ 6589.0% | -39.05M▲ 45.9% | -25.78M▲ 34.0% | -44.63M▼ 73.2% | -822.24M▼ 1742.2% | -897.59M▲ 0% |
| Net Margin % | - | - | -1285.91% | -20.32% | -29.51% | -367.17% | -512.96% |
| Net Income Growth % | - | -6589.01% | 45.87% | 33.99% | -73.16% | -1742.15% | -626.73% |
| Net Income (Continuing) | 1.11M | -72.15M | -39.05M | -25.78M | -44.63M | -822.24M | -897.59M |
| EPS (Diluted) | -0.01▲ 0% | -0.36▼ 7100.0% | -0.16▲ 55.6% | -0.10▲ 37.5% | -0.14▼ 40.0% | -2.15▼ 1435.7% | -2.22▲ 0% |
| EPS Growth % | - | - | 55.56% | 37.5% | -40% | -1435.71% | -541.71% |
| EPS (Basic) | -0.01 | -0.36 | -0.16 | -0.10 | -0.14 | -2.15 | - |
| Diluted Shares Outstanding | 214.78M | 218.03M | 248.23M | 252.44M | 323.1M | 381.6M | 405.11M |
CIFR Balance Sheet
Cipher Mining Inc. (CIFR) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|
| Cash & Short Term Investments | 0 | 209.84M | 11.93M | 86.11M | 5.58M | 628.26M | 2.61B |
| Cash & Due from Banks | 0 | 209.84M | 11.93M | 86.11M | 5.58M | 628.26M | 715.2M |
| Short Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Investments | 0 | 0 | 37.48M | 35.26M | 53.91M | 327.2M | 0 |
| Investments Growth % | - | - | - | -5.92% | 52.9% | 506.95% | 375.78% |
| Long-Term Investments | 0 | 0 | 37.48M | 35.26M | 53.91M | 327.2M | 415.39M |
| Accounts Receivables | 0 | 0 | 98K | 622K | 596K | 687K | 0 |
| Goodwill & Intangibles | 0 | 0 | 596K | 8.11M | 8.88M | 77.39M | 77.16M |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 596K | 8.11M | 8.88M | 77.39M | 77.16M |
| PP&E (Net) | 1.64K | 119.98M | 269.29M | 250.89M | 532.3M | 622.46M | 1.31B |
| Other Assets | 171.45K | 10.53M | 63.36M | 116.38M | 92.15M | 248.96M | 1.11B |
| Total Current Assets | 0 | 223.66M | 47.73M | 155.5M | 168.21M | 2.65B | 3.89B |
| Total Non-Current Assets | 173.09K | 130.51M | 370.73M | 410.64M | 687.24M | 1.28B | 2.5B |
| Total Assets | 173.09K▲ 0% | 354.17M▲ 204518.0% | 418.46M▲ 18.2% | 566.14M▲ 35.3% | 855.45M▲ 51.1% | 4.29B▲ 401.7% | 6.39B▲ 0% |
| Asset Growth % | - | 204518.03% | 18.15% | 35.29% | 51.1% | 401.72% | 1299.1% |
| Return on Assets (ROA) | 642.4% | -40.73% | -10.11% | -5.24% | -6.28% | -31.95% | -24.68% |
| Accounts Payable | 1.92K | 242K | 17.37M | 4.98M | 22.7M | 40.06M | 197.92M |
| Total Debt | 0 | 0 | 20.66M | 21.98M | 56.39M | 2.77B | 369.93M |
| Net Debt | 0 | -209.84M | 8.73M | -64.13M | 50.8M | 2.14B | -345.28M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 2.71B | 8.32M |
| Short-Term Debt | 0 | 0 | 0 | 0 | 32.3M | 37.79M | 361.6M |
| Other Liabilities | 0 | 136.8K | 16.68M | 18.39M | 20.28M | 33.7M | 4.4B |
| Total Current Liabilities | 176.57K | 499.25K | 40.33M | 33.79M | 131.78M | 699.07M | 1.25B |
| Total Non-Current Liabilities | 0 | 136.8K | 35.24M | 41.01M | 41.72M | 2.76B | 4.41B |
| Total Liabilities | 176.57K | 636.05K | 75.57M | 74.8M | 173.49M | 3.46B | 5.65B |
| Total Equity | -3.48K▲ 0% | 353.53M▲ 10159041.6% | 342.89M▼ 3.0% | 491.34M▲ 43.3% | 681.95M▲ 38.8% | 835.85M▲ 22.6% | 739.87M▲ 0% |
| Equity Growth % | - | 10159041.58% | -3.01% | 43.29% | 38.8% | 22.57% | 48.22% |
| Equity / Assets (Capital Ratio) | -2.01% | 99.82% | 81.94% | 86.79% | 79.72% | 19.48% | 11.57% |
| Return on Equity (ROE) | - | -40.82% | -11.22% | -6.18% | -7.61% | -108.35% | -115.53% |
| Book Value per Share | -0.00 | 1.62 | 1.38 | 1.95 | 2.11 | 2.19 | 1.83 |
| Tangible BV per Share | -0.00 | 1.62 | 1.38 | 1.91 | 2.08 | 1.99 | 1.64 |
| Common Stock | 200K | 252.13K | 251K | 296K | 361K | 412K | 413K |
| Additional Paid-in Capital | -200K | 425.44M | 453.85M | 627.82M | 863.01M | 1.81B | 0 |
| Retained Earnings | -3.48K | -72.16M | -111.21M | -136.78M | -181.41M | -1B | -1.12B |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Treasury Stock | 0 | -2.85K | -4K | -5K | -11K | -7K | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
CIFR Cash Flow Statement
Cipher Mining Inc. (CIFR) cash flow — operating, investing & free cash flow history
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|
| Cash from Operations | -321.64K | -31.67M | -20.91M | -94.24M | -87.51M | -207.94M | -207.94M |
| Operating CF Growth % | - | -9745.15% | 33.95% | -350.59% | 7.14% | -137.61% | -580.54% |
| Net Income | -107.03K | -72.15M | -39.05M | -25.78M | -44.63M | -822.24M | -897.59M |
| Depreciation & Amortization | 0 | 4.87K | 5.15M | 59.91M | 103.7M | 200.62M | 176.39M |
| Deferred Taxes | 0 | -69.57M | 1.84M | 3.37M | -937K | -4.27M | -4.41M |
| Other Non-Cash Items | -46.63K | 63.75M | -31.18M | -159.48M | -206.11M | 433.21M | 564.87M |
| Working Capital Changes | -167.98K | -23.26M | 822K | -10.73M | 18.34M | -68.05M | 20.86M |
| Cash from Investing | -170M | -120.14M | -173.91M | 52.76M | -192.13M | -336.61M | -793.51M |
| Purchase of Investments | -170M | 0 | 0 | 0 | 0 | 0 | 0 |
| Sale/Maturity of Investments | 0 | 0 | 0 | 111.19M | 0 | 0 | -90M |
| Net Investment Activity | -170M | 0 | 0 | 111.19M | 0 | 0 | -90M |
| Acquisitions | 0 | 0 | 0 | -3.54M | 0 | 0 | 7.28M |
| Other Investing | 0 | -115.03M | 53.41M | -502K | 110.32M | 151.31M | 231.45M |
| Cash from Financing | 171.6M | 361.65M | -3.09M | 115.66M | 213.51M | 3.19B | 5.07B |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | -25.36M | -3.09M | -3.9M | -27.64M | -89.58M | -93.01M |
| Stock Issued | 171.6M | 5 | 0 | 135.85M | 225.18M | 162.79M | 160.95M |
| Net Stock Activity | 171.6M | -25.36M | -3.09M | 131.95M | 197.54M | 73.21M | 67.94M |
| Debt Issuance (Net) | 0 | 0 | 0 | -1000K | 1000K | 1000K | 1000K |
| Other Financing | 171.6M | 361.65M | 0 | -3.4M | -3.49M | 0 | 5B |
| Net Change in Cash | 1.28M▲ 0% | 208.56M▲ 16240.5% | -197.91M▼ 194.9% | 74.18M▲ 137.5% | -66.13M▼ 189.1% | 2.64B▲ 4099.3% | 4.21B▲ 0% |
| Exchange Rate Effect | 0 | 209.63B | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 0 | 1.28M | 209.84M | 11.93M | 86.11M | 19.98M | 2.66B |
| Cash at End | 1.28M | 209.84M | 11.93M | 86.11M | 19.98M | 2.66B | 4.25B |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Income Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | -321.64K▲ 0% | -36.78M▼ 11333.7% | -248.83M▼ 576.6% | -149.26M▲ 40.0% | -227.01M▼ 52.1% | -695.86M▼ 206.5% | -1.01B▲ 0% |
| FCF Growth % | - | -11333.7% | -576.63% | 40.02% | -52.09% | -206.54% | -102.46% |
CIFR Banking Ratios
Cipher Mining Inc. (CIFR) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|
| Return on Equity (ROE) | -40.82% | -11.22% | -6.18% | -7.61% | -108.35% | -115.53% |
| Return on Assets (ROA) | -40.73% | -10.11% | -5.24% | -6.28% | -31.95% | -24.68% |
| Net Interest Margin | -0.01% | 0.02% | -0.32% | 0.2% | -0.4% | -0.2% |
| Efficiency Ratio | - | 1307.54% | 76.2% | 47.47% | 16.25% | -5.56% |
| Equity / Assets | 99.82% | 81.94% | 86.79% | 79.72% | 19.48% | 11.57% |
| Book Value / Share | 1.62 | 1.38 | 1.95 | 2.11 | 2.19 | 1.83 |
| NII Growth | -191.77% | 410.87% | -2452.56% | 191.34% | -1119.09% | -1901.56% |
| Dividend Payout | - | - | - | - | - | 0% |
CIFR SEC Filings & Documents
Cipher Mining Inc. (CIFR) SEC filings — annual & quarterly reports (10-K, 10-Q)
CIFR Frequently Asked Questions
Cipher Mining Inc. (CIFR) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Cipher Mining Inc. (CIFR) grew revenue by 48.0% over the past year. This is strong growth.
Cipher Mining Inc. (CIFR) reported a net loss of $897.6M for fiscal year 2025.
Dividend & Returns
Cipher Mining Inc. (CIFR) has a return on equity (ROE) of -108.3%. Negative ROE indicates the company is unprofitable.
Industry Metrics
Cipher Mining Inc. (CIFR) has a net interest margin (NIM) of -0.4%. NIM has been under pressure due to interest rate environment.
Cipher Mining Inc. (CIFR) has an efficiency ratio of 16.2%. This is excellent, indicating strong cost control.
Explore More CIFR
Cipher Mining Inc. (CIFR) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
Historical returns with dividends reinvested
DCA Calculator
Dollar cost averaging vs lump sum
Dividend History
Yield, growth, payout safety & DRIP
Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
DCF intrinsic value, peer multiples & estimates