Cipher Mining Inc. (CIFR) Revenue History
Annual and quarterly revenue from 2020 to 2025
Compound Annual Growth Rate (CAGR)
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Revenue Growth Metrics
Revenue Breakdown (FY 2025)
CIFR's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
CIFR Revenue Analysis (2020–2025)
As of February 28, 2026, Cipher Mining Inc. (CIFR) generated trailing twelve-month (TTM) revenue of $223.9 million, reflecting explosive growth of +41.4% year-over-year. The most recent quarter (Q4 2025) recorded $59.7 million in revenue, down 16.7% sequentially.
Looking at the longer-term picture, CIFR's historical revenue data shows a 3-year CAGR of +319.3%. The company achieved its highest annual revenue of $223.9 million in 2025, representing a new all-time high.
Revenue diversification analysis shows CIFR's business is primarily driven by Bitcoin Mining (100%). With over half of revenue concentrated in Bitcoin Mining, the company maintains significant focus in this area while developing other growth vectors.
When compared to Financial Services sector peers including IREN, BMNR, and WULF. Compare CIFR vs IREN →
Peer Comparison
Compare CIFR's revenue metrics with industry peers
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| CIFRCurrent | $224M | +41.4% | - | -76.7% | |
| IREN | $501M | - | - | 3.5% | |
| BMNR | $6M | - | - | 7288.1% | |
| WULF | $140M | - | - | -54.4% | |
| RIOT | $377M | - | - | 40.8% | |
| HUT | $235M | - | - | -136.9% |
Historical Revenue Data
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $223.9M | - | $-135,376,000 | -60.5% | $-171,758,000 | -76.7% |
| 2024 | $151.3M | - | $28.1M | 18.6% | $-43,699,000 | -28.9% |
| 2023 | $126.8M | - | $76.5M | 60.3% | $-20,115,000 | -15.9% |
| 2022 | $3.0M | - | $2.3M | 75.4% | $-37,421,000 | -1232.2% |
| 2021 | $0 | - | $-4,867 | - | $-72,151,811 | - |
| 2020 | $0 | - | $0 | - | $-153,657 | - |
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Start ComparisonFrequently Asked Questions
Is CIFR's revenue growth accelerating or slowing?
CIFR revenue is accelerating at +41.4% year-over-year, exceeding the 5-year CAGR of N/A. TTM revenue reached $224M. Growth momentum has increased versus prior periods.
What is CIFR's long-term revenue growth rate?
Cipher Mining Inc.'s 5-year revenue CAGR of N/A reflects the sustained expansion pattern. Current YoY growth of +41.4% is above this long-term average.
How is CIFR's revenue distributed by segment?
CIFR reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2020-2025 are available for download. Segment mix reveals concentration and diversification trends.