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Cipher Digital Inc.

CIFR Clue Score39
United States Fiscal year ends December CIK 0001819989
$13.52 +0.15% Close, 9 Oct 2026
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Price $13.52 +120.20% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 7 Dec 2020. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2020Operating income−0.2Net income−0.1Fiscal year 2021Operating income−72.2Net income−72.2EPS, diluted−0.33Fiscal year 2022Revenue3.0Operating income−37.4Net income−39.1EPS, diluted−0.16Fiscal year 2023Revenue126.8 +4,076.6%Operating income−20.1Net income−25.8EPS, diluted−0.10Fiscal year 2024Revenue151.3 +19.3%Operating income−43.7Net income−44.6EPS, diluted−0.14Fiscal year 2025Revenue223.9 +48.0%Operating income−421.6Net income−822.2EPS, diluted−2.15
FY2020FY2021FY2022FY2023FY2024FY2025
Revenue n/a n/a 3.0 126.8 151.3 223.9
Growth +4,076.6% +19.3% +48.0%
Operating income −0.2 −72.2 −37.4 −20.1 −43.7 −421.6
Net income −0.1 −72.2 −39.1 −25.8 −44.6 −822.2
Growth
EPS, diluted n/a −0.33 −0.16 −0.10 −0.14 −2.15
Growth

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2020Fiscal year 2021Fiscal year 2022Operating margin−1,232.2%Net margin−1,285.9%Free cash flow margin−1,980.0%Fiscal year 2023Operating margin−15.9%Net margin−20.3%Free cash flow margin−90.4%Fiscal year 2024Operating margin−28.9%Net margin−29.5%Free cash flow margin−150.1%Fiscal year 2025Operating margin−188.2%Net margin−367.2%Free cash flow margin−310.7%
FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin n/a n/a −1,232.2% −15.9% −28.9% −188.2%
Net margin n/a n/a −1,285.9% −20.3% −29.5% −367.2%
Free cash flow margin n/a n/a −1,980.0% −90.4% −150.1% −310.7%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2020Fiscal year 2021Operating cash flow−31.7Capital expenditure−5.1Free cash flow−36.8Buybacks−23.2Fiscal year 2022Operating cash flow−20.9Capital expenditure−39.2Free cash flow−60.1Buybacks−3.1Fiscal year 2023Operating cash flow−94.2Capital expenditure−20.5Free cash flow−114.7Buybacks−3.9Fiscal year 2024Operating cash flow−87.5Capital expenditure−139.5Free cash flow−227.0Buybacks−27.6Fiscal year 2025Operating cash flow−207.9Capital expenditure−487.9Free cash flow−695.9Buybacks−89.6
FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow n/a −31.7 −20.9 −94.2 −87.5 −207.9
Capital expenditure n/a −5.1 −39.2 −20.5 −139.5 −487.9
Free cash flow n/a −36.8 −60.1 −114.7 −227.0 −695.9
Growth
Buybacks n/a −23.2 −3.1 −3.9 −27.6 −89.6

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2020Cash1.3Shareholders’ equity1.3Fiscal year 2021Cash209.8Shareholders’ equity353.5Fiscal year 2022Cash11.9Shareholders’ equity342.9Fiscal year 2023Cash74.2Shareholders’ equity491.3Fiscal year 2024Cash5.6Total debt0.0Net cash (debt)5.6Shareholders’ equity682.0Debt to equity0.00Fiscal year 2025Cash628.3Total debt2,749.4Net cash (debt)−2,121.2Shareholders’ equity805.5Debt to equity3.41
FY2020FY2021FY2022FY2023FY2024FY2025
Cash 1.3 209.8 11.9 74.2 5.6 628.3
Total debt n/a n/a n/a n/a 0.0 2,749.4
Net cash (debt) n/a n/a n/a n/a 5.6 −2,121.2
Shareholders’ equity 1.3 353.5 342.9 491.3 682.0 805.5
Debt to equity n/a n/a n/a n/a 0.00 3.41

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
n/a n/a −1,232.2% −15.9% −28.9% −188.2%
n/a n/a −1,225.3% −17.5% −29.3% −368.6%
n/a n/a −1,285.9% −20.3% −29.5% −367.2%
n/a n/a −1,980.0% −90.4% −150.1% −310.7%
Spending
n/a n/a 2,332.4% 21.9% 21.6% 16.2%
n/a n/a 1,291.4% 16.1% 92.2% 217.9%
Returns
−7.9% −20.4% −11.4% −5.2% −6.5% −102.1%
−0.1% −20.4% −9.3% −4.6% −5.2% −19.2%
Balance and payout
n/a n/a n/a n/a 0.00 3.41
0.1% 0.2% 18.1% 13.2% 20.3% 80.5%