Educational research on US and Indian equities, ETFs, mutual funds and crypto, with screeners and a free investing academy.
All data is for educational purposes only and should not be considered investment advice.
Equiscale is operated by Syntellia LLC, a Delaware limited liability company.
© 2026 Syntellia LLC. All rights reserved.
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.
Rule-based from financial data. Not advice.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 5 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $224M | $-588M | $-822M | $-702M | -102.1% | 48.0% | 1742.2% |
| 2024 | $151M | $61M | $-45M | $-391M | -6.5% | 19.3% | 73.2% |
| 2023 | $127M | $40M | $-26M | $-149M | -5.2% | 4076.6% | -34.0% |
| 2022 | $3M | $-32M | $-39M | $-249M | -11.4% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2025 |
|---|---|
| Total Revenue | 223.94 |
| Operating Revenue | 223.94 |
| Cost Of Revenue | 160.34 |
| Gross Profit | 63.60 |
| Operating Expense | 401 |
| Selling General And Administration | 36.38 |
| Total Expenses | 561.35 |
| Operating Income | -337.40 |
| Total Operating Income As Reported | -421.56 |
| EBITDA | -588.38 |
| Normalized EBITDA | -544.33 |
| EBIT | -789 |
| Interest Income | 19.48 |
| Interest Expense | 36.56 |
| Net Interest Income | -17.08 |
| Other Non Operating Income Expenses | -406.20 |
| Other Income Expense | -471.07 |
| Interest Income Non Operating | 19.48 |
| Interest Expense Non Operating | 36.56 |
| Net Non Operating Interest Income Expense | -17.08 |
| Pretax Income | -825.56 |
| Tax Provision | -3.31 |
| Tax Rate For Calcs | 0 |
| Tax Effect Of Unusual Items | -0.13 |
| Net Income Continuous Operations | -822.24 |
| Net Income From Continuing And Discontinued Operation | -822.24 |
| Net Income From Continuing Operation Net Minority Interest | -822.24 |
| Net Income | -822.24 |
| Net Income Common Stockholders | -822.24 |
| Net Income Including Noncontrolling Interests | -822.24 |
| Normalized Income | -778.33 |
| Diluted NI Availto Com Stockholders | -822.24 |
| Basic Average Shares | 381.60 |
| Diluted Average Shares | 381.60 |
| Reconciled Depreciation | 200.62 |
| Reconciled Cost Of Revenue | 158.70 |
| Total Unusual Items | -44.05 |
| Total Unusual Items Excluding Goodwill | -44.05 |
| Minority Interests | 0 |
| Special Income Charges | - |
| Write Off | - |
| Gain On Sale Of Security | -44.05 |
| Depreciation Amortization Depletion Income Statement | 198.97 |
| Depreciation And Amortization In Income Statement | 198.97 |
| General And Administrative Expense | 36.38 |
| Other Gand A | 36.38 |
| Other Operating Expenses | 165.65 |
| Earnings From Equity Interest | -20.82 |
| Depreciation Income Statement | - |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Cipher Digital Inc.this co. | CIFR | $10.5B | - | 12.97 | -102.1% | - |
| Vicor Corporation | VICR | $14.0B | 117.69 | 19.61 | 16.7% | 132.12 |
| Applied Digital Corporation | APLD | $12.6B | -54.60 | 25.35 | -46.4% | -291.51 |
| D-Wave Quantum Inc. | QBTS | $10.2B | -28.84 | 12.01 | -41.7% | -27.66 |
| Core Scientific, Inc. | CORZ | $8.9B |
| - |
| - |
| - |
| - |
| - |
| -30.74 |
| -9.22 |
| 30.0% |
| -67.35 |
| Rigetti Computing, Inc. | RGTI | $8.0B | -37.14 | 14.70 | -39.6% | -38.42 |
| Clearwater Analytics Holdings, Inc. | CWAN | $7.3B | -187.52 | 3.60 | -1.9% | 98.69 |
| Navitas Semiconductor Corporation | NVTS | $7.3B | -62.15 | 16.38 | -26.4% | -104.54 |
| Silicon Laboratories Inc. | SLAB | $7.2B | -111.28 | 6.60 | -5.9% | -365.09 |
| Peer Median | - | -45.87 | 13.36 | -16.1% | -52.89 | |