Cipher Mining Inc. (CIFR) Revenue History
Annual and quarterly revenue from 2020 to 2025
Compound Annual Growth Rate (CAGR)
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CIFR Revenue Growth
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 May 6, 2026, Cipher Mining Inc. (CIFR) generated trailing twelve-month (TTM) revenue of $175.0 million, reflecting significant decline in growth of -100.0% year-over-year. The most recent quarter (Q1 2026) recorded $0 in revenue, down 100.0% 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 MARA, RIOT, and CLSK (+68.0% YoY), CIFR has underperformed the peer group in terms of revenue growth. Compare CIFR vs MARA →
CIFR Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| CIFRCurrent | $175M | -100.0% | - | -76.7% | |
 MARA | $907M | - | - | -90.6% | |
 RIOT | $647M | - | - | -61.8% | |
 CLSK | $766M | +68.0% | +138.0% | 41.6% | |
 BITF | $193M | - | - | -55.8% | |
 HUT | $235M | - | - | -136.9% |
CIFR Historical Revenue Data (2020–2025)
| 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 ComparisonCIFR — Frequently Asked Questions
Quick answers to the most common questions about buying CIFR stock.
Is CIFR's revenue growth accelerating or slowing?
CIFR revenue declined -100.0% year-over-year, contrasting with the 5-year CAGR of N/A. TTM revenue fell to $175M. This reverses the prior growth trend.
What is CIFR's long-term revenue growth rate?
Cipher Mining Inc.'s 5-year revenue CAGR of N/A reflects the variable expansion pattern. Current YoY growth of -100.0% is below 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.