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Cipher Mining
(NASDAQ:CIFR)
Cipher Mining (CIFR) vs. SPDR S&P 500 ETF (SPY)
Cipher Mining Business Overview & Revenue Model
Cipher Mining Earnings Call Summary
Cipher Mining Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 158.85M | 151.27M | 126.84M | 3.04M | 0.00 | 0.00 |
| Gross Profit | -10.16M | 28.11M | 76.53M | 2.29M | -4.87K | 0.00 |
| EBITDA | -1.91M | 61.09M | 39.70M | -31.93M | -72.12M | -107.03K |
| Net Income | -154.00M | -44.63M | -25.78M | -39.05M | -78.71M | -107.03K |
Balance Sheet | ||||||
| Total Assets | 1.02B | 855.45M | 566.14M | 418.46M | 354.17M | 173.09K |
| Cash, Cash Equivalents and Short-Term Investments | 174.79M | 5.58M | 86.11M | 11.93M | 209.84M | 1.28M |
| Total Debt | 189.29M | 56.42M | 21.98M | 20.32M | 0.00 | 0.00 |
| Total Liabilities | 269.86M | 173.49M | 74.80M | 75.57M | 636.05K | 176.57K |
| Stockholders Equity | 748.90M | 681.95M | 491.34M | 342.89M | 353.53M | -3.48K |
Cash Flow | ||||||
| Free Cash Flow | -521.97M | -227.01M | -149.26M | -248.83M | -36.78M | -321.64K |
| Operating Cash Flow | -138.98M | -87.51M | -94.24M | -20.91M | -31.67M | -321.64K |
| Investing Cash Flow | -240.29M | -192.13M | 52.76M | -173.91M | -120.14M | -170.00M |
| Financing Cash Flow | 333.80M | 213.51M | 115.66M | -3.09M | 361.65M | 171.60M |
Cipher Mining Technical Analysis
Cipher Mining Risk Analysis
Cipher Mining Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $17.48B | 11.72 | 10.35% | 3.82% | 10.01% | 1.29% | |
64 Neutral | $969.49M | 8.82 | -23.29% | ― | 53.68% | -265.12% | |
63 Neutral | $4.30B | ― | -3.39% | ― | 130.86% | -22.83% | |
58 Neutral | $652.43M | 366.97 | 1.33% | ― | 174.88% | -97.01% | |
51 Neutral | $1.87B | ― | -21.39% | ― | 0.11% | -914.42% | |
44 Neutral | $2.05B | ― | -46.99% | ― | 19.82% | -77.95% | |
37 Underperform | $21.30M | ― | 242.25% | ― | -13.86% | -32.19% |
Cipher Mining Corporate Events
On August 7, 2025, Cipher Mining announced its second quarter 2025 financial results, highlighting a revenue of $44 million and non-GAAP adjusted earnings of $30 million. The company successfully commenced hashing at its Black Pearl Phase I site ahead of schedule, contributing to a self-mining capacity of approximately 16.8 EH/s, with expectations to reach 23.5 EH/s by the end of the third quarter. Cipher is also advancing its strategic plan for Black Pearl Phase II, aiming to accommodate both AI compute and hydro-bitcoin mining, which will allow flexibility in leasing to HPC tenants or continuing bitcoin mining. The company completed a $172.5 million convertible note offering and maintains a 2.6-gigawatt pipeline, positioning itself as a leading developer of HPC data centers while setting standards in bitcoin mining.
The most recent analyst rating on (CIFR) stock is a Buy with a $8.00 price target. To see the full list of analyst forecasts on Cipher Mining stock, see the CIFR Stock Forecast page.
On July 22, 2025, Cipher Mining Inc. terminated its Board Observer Agreement with Bitfury Investors, which was initially established in April 2022. The agreement allowed Bitfury to designate a non-voting observer to the company’s board, a right they never exercised. The termination includes mutual releases and confidentiality provisions, indicating a clean break without further obligations for either party.
The most recent analyst rating on (CIFR) stock is a Buy with a $8.00 price target. To see the full list of analyst forecasts on Cipher Mining stock, see the CIFR Stock Forecast page.
On June 3, 2025, Cipher Mining Inc. held its Annual Meeting of Stockholders, where 71.38% of the company’s common stock was represented. During the meeting, stockholders elected directors for terms expiring in 2028, ratified the appointment of CBIZ CPAs P.C. as the independent registered public accounting firm, and approved executive compensation and its advisory vote frequency, indicating continued shareholder support for the company’s governance and financial strategies.
The most recent analyst rating on (CIFR) stock is a Buy with a $8.00 price target. To see the full list of analyst forecasts on Cipher Mining stock, see the CIFR Stock Forecast page.
Cipher Mining has incorporated the Statement of Eligibility on Form T-1 under the Trust Indenture Act of 1939 into its Registration Statement on Form S-3. This move is part of the company’s regulatory compliance efforts, which may impact its operational transparency and stakeholder trust.
The most recent analyst rating on (CIFR) stock is a Buy with a $8.00 price target. To see the full list of analyst forecasts on Cipher Mining stock, see the CIFR Stock Forecast page.
Cipher Mining announced plans to offer $150 million in convertible senior notes due 2030, with Morgan Stanley managing the offering. The proceeds will fund the completion of Phase 1 of the Black Pearl data center project, including purchasing mining rigs at a discount and covering tariffs and shipping costs. The offering is contingent on a concurrent delta offering of borrowed common stock to facilitate hedging transactions. The company aims to reduce capital expenditure overhang and accelerate its rig deployment timeline, with the data center expected to be energized in June 2025 and rigs arriving in July 2025.
The most recent analyst rating on (CIFR) stock is a Buy with a $8.00 price target. To see the full list of analyst forecasts on Cipher Mining stock, see the CIFR Stock Forecast page.