Symbols / CIFR $13.35 +4.13% Cipher Digital Inc.

Technology • Information Technology Services • United States • NMS
CIFR Chart
About

Cipher Digital Inc., together with its subsidiaries, develops and operates industrial-scale data centers for bitcoin mining and high-performance compute (HPC) hosting in the United States. It develops HPC data center facilities across various sites for hyperscaler tenants; operates power at one bitcoin mining data center; and maintains a pipeline across various sites. The company was formerly known as Cipher Mining Inc. and change its name to Cipher Digital Inc. in February 2026. The company was founded in 2021 and is headquartered in New York, New York.

Fundamentals
Scroll to Statements
Sector Technology Industry Information Technology S Market Cap 5.41B
Enterprise Value 7.36B Income -822.24M Sales 223.94M
Book/sh 1.99 Cash/sh 1.55 Dividend Yield —
Payout 0.00% Employees 66 IPO —
P/E — Forward P/E 24.72 PEG —
P/S 24.15 P/B 6.71 P/C —
EV/EBITDA 31.13 EV/Sales 32.88 Quick Ratio 0.90
Current Ratio 3.79 Debt/Eq 331.04 LT Debt/Eq —
EPS (ttm) -2.15 EPS next Y 0.54 EPS Growth —
Revenue Growth 41.40% Earnings 2026-05-05 ROA 0.90%
ROE -108.35% ROIC — Gross Margin 28.40%
Oper. Margin 236.11% Profit Margin 0.00% Shs Outstand 405.12M
Shs Float 330.20M Short Float 18.56% Short Ratio 2.10
Short Interest — 52W High 25.52 52W Low 1.86
Beta 3.03 Avg Volume 28.95M Volume 18.11M
Target Price $27.10 Recom Strong_buy Prev Close $12.82
Price $13.35 Change 4.13%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$27.10
Mean price target
2. Current target
$13.35
Latest analyst target
3. DCF / Fair value
$-67.59
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$13.35
Low
$18.00
High
$53.00
Mean
$27.10

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-03-26 main Rosenblatt Buy → Buy $24
2026-03-25 reit Needham Buy → Buy $22
2026-03-19 main Rosenblatt Buy → Buy $24
2026-03-11 main Keefe, Bruyette & Woods Outperform → Outperform $20
2026-02-25 main HC Wainwright & Co. Buy → Buy $25
2026-02-25 main Needham Buy → Buy $22
2026-01-27 main Keefe, Bruyette & Woods Outperform → Outperform $22
2025-12-15 main Canaccord Genuity Buy → Buy $27
2025-11-24 up JP Morgan Neutral → Overweight $18
2025-11-19 init Citizens — → Market Outperform $30
2025-11-05 reit BTIG Buy → Buy $25
2025-11-04 main Clear Street Buy → Buy $34
2025-11-04 main Canaccord Genuity Buy → Buy $27
2025-11-04 main Rosenblatt Buy → Buy $33
2025-11-04 main Needham Buy → Buy $26
2025-11-04 main HC Wainwright & Co. Buy → Buy $30
2025-10-22 main Macquarie Outperform → Outperform $27
2025-10-16 main Rosenblatt Buy → Buy $25
2025-10-14 main BTIG Buy → Buy $25
2025-09-30 main Needham Buy → Buy $15
News
RSS: Latest CIFR news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-03-25 PAGE TYLER Chief Executive Officer — 37,500 $16.11 $604,125
2026-03-23 GROSSMAN CARY M Director — 30,000 $14.54 $436,200
2026-03-23 KELLY PATRICK ARTHUR President — 21,700 $0.00 $0
2026-03-16 KELLY PATRICK ARTHUR President — 35,568 $14.98 $532,809
2026-03-04 NEWSOME JAMES E Director — 45,161 $15.74 $710,834
2026-02-25 DUDA THOMAS DAVID Director — 3,862 $0.00 $0
2026-02-17 KELLY PATRICK ARTHUR President — 35,568 $15.52 $552,015
2026-01-15 KELLY PATRICK ARTHUR President — 35,568 $17.76 $631,688
2025-12-19 NEWSOME JAMES E Director — 21,821 $16.03 $349,791
2025-12-19 WILLIAMS WESLEY HASTIE Director — 49,867 $16.08 $801,861
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
223.94
+48.04%
151.27
+19.26%
126.84
+4076.56%
3.04
Operating Revenue
223.94
+48.04%
151.27
+19.26%
126.84
+4076.56%
3.04
Cost Of Revenue
160.34
+30.19%
123.16
+14.35%
107.71
+14299.47%
0.75
Reconciled Cost Of Revenue
158.70
+30.18%
121.91
+14.06%
106.89
+14189.57%
0.75
Gross Profit
63.60
+126.24%
28.11
+46.91%
19.13
+735.91%
2.29
Operating Expense
401.00
+217.34%
126.36
+69.41%
74.59
-0.22%
74.76
Selling General And Administration
36.38
+11.41%
32.66
+17.48%
27.80
-60.76%
70.84
General And Administrative Expense
36.38
+11.41%
32.66
+17.48%
27.80
-60.76%
70.84
Other Gand A
36.38
+11.41%
32.66
+17.48%
27.80
-60.76%
70.84
Other Operating Expenses
165.65
+1995.70%
-8.74
+28.94%
-12.30
-2584.72%
-0.46
Total Expenses
561.35
+124.97%
249.53
+36.88%
182.30
+141.45%
75.50
Operating Income
-337.40
-243.40%
-98.25
-77.17%
-55.46
+23.47%
-72.47
Total Operating Income As Reported
-421.56
-864.70%
-43.70
-117.25%
-20.11
+46.25%
-37.42
EBITDA
-588.38
-1063.17%
61.09
+53.86%
39.70
+224.36%
-31.93
Normalized EBITDA
-544.33
-9329.09%
5.90
+184.52%
2.07
+101.99%
-104.07
Reconciled Depreciation
200.62
+93.47%
103.70
+73.07%
59.91
+1063.40%
5.15
EBIT
-789.00
-1751.72%
-42.61
-110.82%
-20.21
+45.49%
-37.08
Total Unusual Items
-44.05
-179.81%
55.19
+46.66%
37.63
-47.84%
72.15
Total Unusual Items Excluding Goodwill
-44.05
-179.81%
55.19
+46.66%
37.63
-47.84%
72.15
Special Income Charges
—
—
0.00
+100.00%
-1.47
Write Off
—
—
0.00
-100.00%
1.47
Net Income
-822.24
-1742.15%
-44.63
-73.16%
-25.78
+33.99%
-39.05
Pretax Income
-825.56
-1762.84%
-44.32
-99.54%
-22.21
+40.32%
-37.21
Net Non Operating Interest Income Expense
-17.08
-1119.09%
1.68
+191.34%
-1.83
-2452.56%
0.08
Interest Expense Non Operating
36.56
+2040.46%
1.71
-14.56%
2.00
+1359.12%
0.14
Net Interest Income
-17.08
-1119.09%
1.68
+191.34%
-1.83
-2452.56%
0.08
Interest Expense
36.56
+2040.46%
1.71
-14.56%
2.00
+1359.12%
0.14
Interest Income Non Operating
19.48
+475.62%
3.38
+1963.41%
0.16
-23.72%
0.21
Interest Income
19.48
+475.62%
3.38
+1963.41%
0.16
-23.72%
0.21
Other Income Expense
-471.07
-1001.37%
52.26
+48.96%
35.08
-0.26%
35.18
Other Non Operating Income Expenses
-406.20
-15867.14%
-2.54
-14864.71%
-0.02
—
Gain On Sale Of Security
-44.05
-179.81%
55.19
+46.66%
37.63
-48.88%
73.61
Tax Provision
-3.31
-1141.82%
0.32
-91.08%
3.57
+93.86%
1.84
Tax Rate For Calcs
0.00
-98.57%
0.00
+0.00%
0.00
+0.00%
0.00
Tax Effect Of Unusual Items
-0.13
-101.14%
11.59
+46.66%
7.90
-47.84%
15.15
Net Income Including Noncontrolling Interests
-822.24
-1742.15%
-44.63
-73.16%
-25.78
+33.99%
-39.05
Net Income From Continuing Operation Net Minority Interest
-822.24
-1742.15%
-44.63
-73.16%
-25.78
+33.99%
-39.05
Net Income From Continuing And Discontinued Operation
-822.24
-1742.15%
-44.63
-73.16%
-25.78
+33.99%
-39.05
Net Income Continuous Operations
-822.24
-1742.15%
-44.63
-73.16%
-25.78
+33.99%
-39.05
Minority Interests
0.00
0.00
0.00
—
Normalized Income
-778.33
-782.11%
-88.24
-58.97%
-55.51
+42.21%
-96.05
Net Income Common Stockholders
-822.24
-1742.15%
-44.63
-73.16%
-25.78
+33.99%
-39.05
Diluted EPS
-2.15
-1435.71%
-0.14
-40.00%
-0.10
+37.50%
-0.16
Basic EPS
-2.15
-1435.71%
-0.14
-40.00%
-0.10
+37.50%
-0.16
Basic Average Shares
381.60
+18.11%
323.10
+27.99%
252.44
+1.70%
248.23
Diluted Average Shares
381.60
+18.11%
323.10
+27.99%
252.44
+1.70%
248.23
Diluted NI Availto Com Stockholders
-822.24
-1742.15%
-44.63
-73.16%
-25.78
+33.99%
-39.05
Depreciation Amortization Depletion Income Statement
198.97
+94.22%
102.45
+73.37%
59.09
+1249.77%
4.38
Depreciation And Amortization In Income Statement
198.97
+94.22%
102.45
+73.37%
59.09
+1249.77%
4.38
Depreciation Income Statement
—
—
—
4.38
Earnings From Equity Interest
-20.82
-5322.40%
-0.38
+84.82%
-2.53
+93.16%
-36.97
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
4,291.91
+401.72%
855.45
+51.10%
566.14
+35.29%
418.46
Current Assets
2,652.86
+1477.16%
168.21
+8.17%
155.50
+225.75%
47.73
Cash Cash Equivalents And Short Term Investments
628.26
+11149.11%
5.58
-93.51%
86.11
+621.93%
11.93
Cash And Cash Equivalents
628.26
+11149.11%
5.58
-93.51%
86.11
+621.93%
11.93
Receivables
0.96
-97.26%
34.93
+3929.30%
0.87
-27.75%
1.20
Accounts Receivable
0.69
+15.27%
0.60
-4.18%
0.62
+534.69%
0.10
Other Receivables
—
32.25
—
—
Inventory
125.40
+35.35%
92.65
+180.95%
32.98
+424.88%
6.28
Finished Goods
125.40
+35.35%
92.65
+180.95%
32.98
+424.88%
6.28
Prepaid Assets
—
—
—
7.25
Restricted Cash
1,761.29
0.00
—
—
Assets Held For Sale Current
94.88
0.00
—
—
Hedging Assets Current
34.09
+7.72%
31.65
-0.72%
31.88
+51.29%
21.07
Other Current Assets
7.98
+135.52%
3.39
-7.71%
3.67
-49.41%
7.25
Total Non Current Assets
1,639.05
+138.50%
687.24
+67.36%
410.64
+10.77%
370.73
Net PPE
644.74
+21.12%
532.30
+88.96%
281.70
+4.61%
269.29
Gross PPE
978.90
+41.68%
690.94
+102.75%
340.78
+24.61%
273.49
Accumulated Depreciation
-334.17
-110.65%
-158.64
-168.51%
-59.08
-1308.34%
-4.20
Properties
289.68
-15.33%
342.11
+109.21%
163.52
+104.64%
79.91
Land And Improvements
79.05
+61.27%
49.02
0.00
—
Buildings And Improvements
66.59
0.00
—
—
Machinery Furniture Equipment
—
342.11
+109.21%
163.52
+70996.96%
0.23
Construction In Progress
287.43
+137.77%
120.89
+291.72%
30.86
-66.98%
93.45
Other Properties
122.02
+195.21%
41.33
+449.86%
7.52
+47.77%
5.09
Leases
134.12
-2.51%
137.58
-0.94%
138.88
+46.49%
94.81
Goodwill And Other Intangible Assets
77.39
+771.39%
8.88
+9.52%
8.11
+1260.57%
0.60
Other Intangible Assets
77.39
+771.39%
8.88
+9.52%
8.11
+1260.57%
0.60
Investments And Advances
29.40
-45.46%
53.91
+52.90%
35.26
-5.92%
37.48
Long Term Equity Investment
29.40
-45.46%
53.91
+52.90%
35.26
-5.92%
37.48
Non Current Deferred Assets
—
—
—
0.00
Non Current Prepaid Assets
27.73
+40.19%
19.78
-17.07%
23.86
+34.55%
17.73
Other Non Current Assets
837.07
+4461.69%
18.35
—
—
Total Liabilities Net Minority Interest
3,456.05
+1892.04%
173.49
+131.94%
74.80
-1.02%
75.57
Current Liabilities
699.07
+430.49%
131.78
+289.96%
33.79
-16.20%
40.33
Payables And Accrued Expenses
92.07
+6.14%
86.75
+279.51%
22.86
-36.80%
36.17
Payables
49.37
+8.27%
45.60
+109.98%
21.72
-39.95%
36.17
Accounts Payable
40.06
+76.50%
22.70
+247.40%
6.53
-62.38%
17.37
Other Payable
—
8.30
—
—
Current Accrued Expenses
42.70
+3.78%
41.14
+3512.12%
1.14
0.00
Pensionand Other Post Retirement Benefit Plans Current
5.85
+31.42%
4.45
-23.29%
5.80
0.00
Total Tax Payable
9.31
-36.26%
14.61
-3.80%
15.18
-19.23%
18.80
Current Debt And Capital Lease Obligation
43.76
+11.48%
39.26
+758.97%
4.57
+16.11%
3.94
Current Debt
37.79
+16.90%
32.33
—
—
Other Current Borrowings
37.79
+417.71%
7.30
—
—
Current Capital Lease Obligation
5.97
-13.82%
6.92
+51.53%
4.57
+16.11%
3.94
Other Current Liabilities
557.39
+41840.71%
1.33
+134.81%
0.57
+153.81%
0.22
Total Non Current Liabilities Net Minority Interest
2,756.98
+6509.09%
41.72
+1.72%
41.01
+16.35%
35.24
Long Term Debt And Capital Lease Obligation
2,723.29
+15766.27%
17.16
-1.40%
17.41
+4.10%
16.72
Long Term Debt
2,711.65
—
—
—
Long Term Capital Lease Obligation
11.64
-32.19%
17.16
-1.40%
17.41
+4.10%
16.72
Long Term Provisions
33.70
+66.14%
20.28
+10.26%
18.39
+10.26%
16.68
Non Current Deferred Liabilities
0.00
-100.00%
4.27
-18.00%
5.21
+182.93%
1.84
Non Current Deferred Taxes Liabilities
0.00
-100.00%
4.27
-18.00%
5.21
+182.93%
1.84
Stockholders Equity
805.53
+18.12%
681.95
+38.80%
491.34
+43.29%
342.89
Common Stock Equity
805.53
+18.12%
681.95
+38.80%
491.34
+43.29%
342.89
Capital Stock
0.41
+14.13%
0.36
+21.96%
0.30
+17.93%
0.25
Common Stock
0.41
+14.13%
0.36
+21.96%
0.30
+17.93%
0.25
Preferred Stock
0.00
0.00
0.00
0.00
Share Issued
412.07
+14.01%
361.43
+21.99%
296.28
+17.99%
251.10
Ordinary Shares Number
404.96
+15.45%
350.78
+20.56%
290.96
+17.53%
247.55
Treasury Shares Number
7.11
-33.22%
10.65
+100.21%
5.32
+50.10%
3.54
Additional Paid In Capital
1,808.79
+109.59%
863.01
+37.46%
627.82
+38.33%
453.85
Retained Earnings
-1,003.66
-453.25%
-181.41
-32.63%
-136.78
-22.99%
-111.21
Treasury Stock
0.01
-36.36%
0.01
+120.00%
0.01
+25.00%
0.00
Minority Interest
30.32
0.00
—
—
Total Equity Gross Minority Interest
835.85
+22.57%
681.95
+38.80%
491.34
+43.29%
342.89
Total Capitalization
3,517.18
+415.75%
681.95
+38.80%
491.34
+43.29%
342.89
Working Capital
1,953.79
+5263.57%
36.43
-70.07%
121.70
+1542.66%
7.41
Invested Capital
3,554.98
+397.70%
714.28
+45.38%
491.34
+43.29%
342.89
Total Debt
2,767.05
+4804.46%
56.42
+156.71%
21.98
+6.38%
20.66
Net Debt
2,121.18
+7831.12%
26.75
—
—
Capital Lease Obligations
17.61
-26.91%
24.09
+9.61%
21.98
+6.38%
20.66
Net Tangible Assets
728.15
+8.18%
673.07
+39.29%
483.23
+41.17%
342.30
Tangible Book Value
728.15
+8.18%
673.07
+39.29%
483.23
+41.17%
342.30
Derivative Product Liabilities
—
—
—
0.00
Duefrom Related Parties Current
0.27
-87.03%
2.09
+753.06%
0.24
-77.77%
1.10
Dueto Related Parties Current
—
—
—
3.08
Financial Assets
22.72
-57.94%
54.02
-12.46%
61.71
+35.24%
45.63
Line Of Credit
—
32.33
0.00
—
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
-207.94
-137.61%
-87.51
+7.14%
-94.24
-350.59%
-20.91
Cash Flow From Continuing Operating Activities
-207.94
-137.61%
-87.51
+7.14%
-94.24
-350.59%
-20.91
Net Income From Continuing Operations
-822.24
-1742.15%
-44.63
-73.16%
-25.78
+33.99%
-39.05
Depreciation Amortization Depletion
200.62
+93.47%
103.70
+73.07%
59.91
+1063.40%
5.15
Depreciation
200.62
+93.47%
103.70
+73.07%
59.91
+1063.40%
5.15
Amortization Cash Flow
—
0.65
+437.19%
0.12
0.00
Depreciation And Amortization
200.62
+93.47%
103.70
+73.07%
59.91
+1063.40%
5.15
Amortization Of Intangibles
—
0.65
+437.19%
0.12
0.00
Other Non Cash Items
-204.10
-35.13%
-151.05
-21.44%
-124.38
-3211.03%
4.00
Stock Based Compensation
52.79
+25.29%
42.13
+9.52%
38.47
-7.31%
41.50
Asset Impairment Charge
141.37
0.00
0.00
-100.00%
1.47
Deferred Tax
-4.27
-355.60%
-0.94
-127.84%
3.37
+82.93%
1.84
Deferred Income Tax
-4.27
-355.60%
-0.94
-127.84%
3.37
+82.93%
1.84
Operating Gains Losses
460.07
+1164.91%
-43.20
-35.85%
-31.80
+13.21%
-36.64
Gain Loss On Investment Securities
407.82
+1029.47%
-43.88
-27.80%
-34.33
+53.36%
-73.61
Unrealized Gain Loss On Investment Securities
35.87
+402.49%
-11.86
-259.47%
-3.30
—
Gain Loss On Sale Of PPE
—
—
—
-0.01
Change In Working Capital
-68.05
-471.03%
18.34
+270.84%
-10.73
-1405.96%
0.82
Change In Receivables
—
-1.82
-5.33%
-1.73
-43.92%
-1.20
Changes In Account Receivables
—
-1.82
-5.33%
-1.73
-43.92%
-1.20
Change In Prepaid Assets
—
12.65
+587.78%
-2.59
-174.50%
-0.94
Change In Payables And Accrued Expense
—
11.46
+307.53%
-5.52
-274.26%
3.17
Change In Accrued Expense
—
3.47
-34.72%
5.31
+610.03%
0.75
Change In Payable
—
8.00
+173.81%
-10.84
-547.36%
2.42
Change In Account Payable
—
8.00
+173.81%
-10.84
-547.36%
2.42
Change In Other Current Assets
—
-3.96
0.00
—
Change In Other Current Liabilities
—
0.00
+100.00%
-0.89
-338.42%
-0.20
Investing Cash Flow
-336.61
-75.20%
-192.13
-464.19%
52.76
+130.33%
-173.91
Cash Flow From Continuing Investing Activities
-336.61
-75.20%
-192.13
-464.19%
52.76
+130.33%
-173.91
Net PPE Purchase And Sale
-492.80
-62.93%
-302.45
-456.12%
-54.39
+76.08%
-227.32
Purchase Of PPE
-492.80
-62.93%
-302.45
-456.12%
-54.39
+76.08%
-227.32
Capital Expenditure
-494.24
-62.64%
-303.88
-452.30%
-55.02
+75.86%
-227.92
Net Investment Purchase And Sale
179.75
+20.74%
148.87
+33.89%
111.19
0.00
Purchase Of Investment
-34.98
0.00
0.00
0.00
Sale Of Investment
214.74
+44.24%
148.87
+33.89%
111.19
0.00
Net Business Purchase And Sale
-22.13
+40.40%
-37.12
-947.19%
-3.54
0.00
Purchase Of Business
-22.13
+40.40%
-37.12
-947.19%
-3.54
0.00
Net Intangibles Purchase And Sale
-1.44
-1.34%
-1.42
-124.45%
-0.63
-6.38%
-0.60
Purchase Of Intangibles
-1.44
-1.34%
-1.42
-124.45%
-0.63
-6.38%
-0.60
Net Other Investing Changes
—
—
-3.68
—
Financing Cash Flow
3,189.20
+1393.69%
213.51
+84.60%
115.66
+3843.17%
-3.09
Cash Flow From Continuing Financing Activities
3,189.20
+1393.69%
213.51
+84.60%
115.66
+3843.17%
-3.09
Net Issuance Payments Of Debt
3,115.99
+15913.13%
19.46
+251.10%
-12.88
0.00
Issuance Of Debt
3,145.83
+12483.32%
25.00
0.00
0.00
Repayment Of Debt
-29.83
-438.42%
-5.54
+56.97%
-12.88
0.00
Long Term Debt Issuance
3,145.83
0.00
0.00
0.00
Long Term Debt Payments
-29.83
-438.42%
-5.54
+56.97%
-12.88
0.00
Net Long Term Debt Issuance
3,115.99
+56335.25%
-5.54
+56.97%
-12.88
0.00
Short Term Debt Issuance
0.00
-100.00%
25.00
0.00
—
Net Short Term Debt Issuance
0.00
-100.00%
25.00
0.00
—
Net Common Stock Issuance
155.89
-19.67%
194.05
+50.96%
128.54
+4259.94%
-3.09
Common Stock Payments
-89.58
-224.10%
-27.64
-608.38%
-3.90
-26.28%
-3.09
Repurchase Of Capital Stock
-89.58
-224.10%
-27.64
-608.38%
-3.90
-26.28%
-3.09
Net Other Financing Charges
-82.68
-2271.09%
-3.49
-2.44%
-3.40
—
Changes In Cash
2,644.65
+4099.30%
-66.13
-189.15%
74.18
+137.48%
-197.91
Beginning Cash Position
19.98
-76.80%
86.11
+621.93%
11.93
-94.32%
209.84
End Cash Position
2,664.63
+13238.49%
19.98
-76.80%
86.11
+621.93%
11.93
Free Cash Flow
-702.17
-79.41%
-391.39
-162.22%
-149.26
+40.02%
-248.83
Interest Paid Supplemental Data
—
—
—
0.00
Income Tax Paid Supplemental Data
—
—
—
0.00
Common Stock Issuance
245.47
+10.73%
221.69
+67.39%
132.44
0.00
Dividends Received CFI
0.00
0.00
-100.00%
3.81
-92.95%
54.01
Earnings Losses From Equity Investments
20.82
+5322.40%
0.38
-84.82%
2.53
-93.16%
36.97
Issuance Of Capital Stock
245.47
+10.73%
221.69
+67.39%
132.44
0.00
SEC Filings

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