Cipher Digital Inc.
CIFR- Exchange
- Nasdaq
- Industry
- Finance Services
- SEC CIK
- 0001819989
No open-market purchases or sales by Cipher Digital Inc. insiders were filed in the last 90 days; 470 institutions reported holding it in 13F filings for Q2 2026, worth $9.09B in total; Tiger Global Management is the only superinvestor holding it.
- Currency
- USD
- Source
- SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
- Updated
- Nov 3, 2026, 1:13 AM ET
Revenue flow, FY2025
Where the revenue went in FY2025, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.
Net loss for FY2025: $822.2M (367.2% of revenue).
Income statement
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2020 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2020 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K/A |
| Reported | Feb 24, 2026 | Feb 25, 2025 | Mar 5, 2024 | Mar 14, 2023 | – |
| Revenue | $223.9M | $151.3M | $126.8M | $3.04M | – |
| Cost of revenue | $81.2M | $62.4M | $50.3M | $748.0K | – |
| Selling, general and administrative | $36.4M | $32.7M | $85.2M | $70.8M | – |
| Operating income | -$421.6M | -$43.7M | -$20.1M | -$37.4M | -$153.7K |
| Interest expense | – | – | $2.00M | $137.0K | – |
| Income tax | -$3.31M | $318.0K | $3.57M | $1.84M | – |
| Net income | -$822.2M | -$44.6M | -$25.8M | -$39.1M | -$107.0K |
| EPS, basic | $-2.15 | $-0.14 | $-0.10 | $-0.16 | – |
| EPS, diluted | $-2.15 | $-0.14 | $-0.10 | $-0.16 | – |
| Weighted shares, basic | 381.6M | 323.1M | 252.4M | 248.2M | – |
| Weighted shares, diluted | 381.6M | 323.1M | 252.4M | 248.2M | – |
| Margins and growth | |||||
| Operating margin | -188.2% | -28.9% | -15.9% | -1232.2% | – |
| Net margin | -367.2% | -29.5% | -20.3% | -1285.9% | – |
| Revenue growth, year over year | +48.0% | +19.3% | +4,076.6% | – | – |
Balance sheet
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2020! |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2020 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K/A |
| Reported | Feb 24, 2026 | Feb 25, 2025 | Mar 5, 2024 | Mar 14, 2023 | – |
| Cash and equivalents | $628.3M | $5.58M | $86.1M | $11.9M | $1.28M |
| Short-term investments | – | – | – | – | $170.0M |
| Accounts receivable | – | – | – | $98.0K | – |
| Total current assets | $2.65B | $168.2M | $155.5M | $47.7M | $1.57M |
| Property, plant and equipment | – | – | $243.8M | $191.8M | – |
| Intangible assets | $77.4M | $8.88M | $8.11M | – | $5.00M |
| Total assets | $4.29B | $855.4M | $566.1M | $418.5M | $171.6M |
| Accounts payable | $40.1M | – | – | $14.3M | – |
| Short-term debt | $37.8M | $32.3M | – | – | – |
| Total current liabilities | $699.1M | $131.8M | $33.8M | $40.3M | $129.4K |
| Long-term debt | $2.71B | – | – | – | – |
| Total liabilities | $3.46B | $173.5M | $74.8M | $75.6M | $252.5K |
| Shareholders' equity | $805.5M | $682.0M | $491.3M | $342.9M | $1.35M |
Cash flow statement
Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2020 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2020 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K/A |
| Reported | Feb 24, 2026 | Feb 25, 2025 | Mar 5, 2024 | Mar 14, 2023 | – |
| Operating cash flow | -$207.9M | -$87.5M | -$94.2M | -$20.9M | – |
| Capital expenditures | $487.9M | $139.5M | $20.5M | $39.8M | – |
| Free cash flow | -$695.9M | -$227.0M | -$114.7M | -$60.7M | – |
| Depreciation and amortization | $199.0M | $102.4M | $59.1M | – | – |
| Stock-based compensation | $52.8M | $42.1M | $38.5M | $41.5M | – |
| Share buybacks | $89.6M | $27.6M | $3.90M | $3.09M | – |
| Investing cash flow | -$336.6M | -$192.1M | $52.8M | -$173.9M | – |
| Financing cash flow | $3.19B | $213.5M | $115.7M | -$3.09M | – |
| Net change in cash | $2.64B | -$66.1M | $74.2M | -$197.9M | – |
| Ratio | |||||
| Stock-based compensation, % of revenue | 23.6% | 27.9% | 30.3% | 1366.6% | – |
Shares outstanding
Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.
| Cover date | Shares outstanding | Change in a year | Filing |
|---|---|---|---|
| Oct 30, 2026 | 456.4M | +15.5% | SEC |
| Aug 3, 2026 | 415.0M | +5.5% | SEC |
| May 4, 2026 | 409.0M | +10.2% | SEC |
| Feb 23, 2026 | 405.1M | +12.1% | SEC |
| Oct 31, 2025 | 395.1M | +13.6% | SEC |
| Aug 6, 2025 | 393.3M | +19.6% | SEC |
| May 5, 2025 | 371.2M | +19.7% | SEC |
| Feb 24, 2025 | 361.5M | +21.9% | SEC |
Notes and known gaps
How these numbers are put together, and what they can't tell you.
- Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
- Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
- A column marked ! failed an accounting identity (gross profit = revenue − cost of revenue, or assets = liabilities + equity, within 1%). Its numbers are shown as filed.
Known gaps
- Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
- EPS and share counts are as reported at the time, not adjusted for later stock splits.
- For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
- For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
- Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
- Depreciation and amortization is missing for some companies that report it under their own XBRL tags.