Cipher Mining Inc.
CIFR · Price history
Price at last available close
$8.87
−$7.64 (-46.27%) 1M
2026-10-28
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Company & revenue
About Cipher Mining Inc.
Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
Cipher Mining Inc. is a United States-based technology enterprise actively engaged in the Bitcoin mining sector. Its primary objective involves the development and expansion of cryptocurrency mining operations, specifically tailored for Bitcoin. Established in 2021, the company maintains its headquarters in New York, New York.
How they make money
Cipher Digital develops and operates industrial-scale data centers, transitioning from a bitcoin mining-focused model to leasing high-performance computing (HPC) data center capacity to hyperscalers under long-term contracts. The company leverages its power origination expertise and site pipeline to provide critical IT load for AI and other compute-intensive applications while maintaining flexibility to deploy bitcoin mining operations.
Products & services
Industrial-scale data center infrastructure, HPC hosting services for hyperscalers, and bitcoin mining operations.
Brands & revenue mix
No separate brand or brand-level revenue disclosure was confirmed in the reviewed sources. This does not mean the company has no brands.
Product / operating segments
Period ended 2025-12-31Source
Calculated from reported segment revenue. Check the source period and revenue basis before comparing shares. Categories can overlap and may not add to 100%.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Customer concentration
The company is transitioning to long-term contracts with hyperscalers and does not currently report a specific customer concentration percentage for the fiscal year ended 2025-12-31.
Suppliers, materials & equipment
- Mining hardware manufacturers — The company sources specialized ASIC hardware for its bitcoin mining operations from various unnamed third-party manufacturers.Source
Financial risk observations and what to check
These are saved observations about business performance, not predictions. Review the company filings alongside the interpretation below. Latest stored financial period end: 2026-06-30.
Quarterly revenue fell 43.0% versus the same quarter last year.
Check comparable business scope and currency, then separate volume, pricing and divestitures. One weaker quarter does not establish that the same decline will continue.
Total debt increased 2851.5% versus the same quarter last year.
Compare the added borrowing with available cash, cash generation and maturities. A percentage increase from a small starting balance can look large without measuring the full debt burden.
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
28
Poor
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
37
Poor
Financial Strength
15
Business Quality / Moat
92
Management
40
Growth Quality
11
Risk / Durability
0
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
33
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
47/100
Building Historical Record
Model Score 47/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
- •Recent buyback activity is present
- •Elevated debt risk
- •Valuation is a weaker part of the current profile
- •Revenue fundamentals are weak
- •Debt / balance-sheet profile needs attention
Company-specific research
Questions worth answering for CIFR
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •What is driving CIFR's revenue decline, and does the latest company filing suggest the weakness is temporary or structural?
- •How long can CIFR fund negative free cash flow using its current cash position before it may need more debt or new shares?
- •Does CIFR's balance between cash and debt leave enough flexibility if business conditions weaken?
- •What specifically needs to improve for CIFR to reach sustainable profitability?
- •What future growth or profitability would be needed to justify CIFR's current valuation?
Essential Investment Snapshot
Wall Street Score
28
Opportunity Score
33
Market Cap
$3.68B
P/E Ratio
-5.5
EPS
$-2.87
52-Week High
$30.14
52-Week Low
$11.72
Beta
3.17
Analyst Target
$28.50
Shares Outstanding
381.6M
Total Revenue
$191.1M
Total Debt
$5.59B
Dividend
No current dividend
Liquidation Value / Share
$1.54
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Strong downward momentum
High movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for CIFR
Detected from reported data — verify before acting.Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
Elevated debt risk
Total debt is at least one year of revenue • Interest coverage is below 2x • Free cash flow is negative
Community Sentiment
0 active · 0 total callsNo personal call yet on CIFR.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Power origination expertise.
- +Large-scale data center development capabilities.
Potential downside factors
- −Debt risk (elevated): Total debt is at least one year of revenue.
- −Interest coverage is below 2x.
- −Free cash flow is negative.
- −Debt agreement restrictions limiting operational flexibility.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
6 historical score records availablePrevious Score
27
Sep 14, 2026
Change
+0.1
points
Current Score
28
Oct 1, 2026
Category Changes
CIFR increased 0.1 points because overall fundamentals improved.
Projected Score
Projected Score
28
Projected Change
+0.8 points
Preliminary comparable-period financial changes suggest improvement of approximately 0.8 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
Valuation unavailableCurrent Price
$8.87
Model Intrinsic Value
—
Difference
—
Margin of Safety
—
Intrinsic value is not currently available for this stock, so valuation can't be calculated.
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue | $191.1M | $223.9M | $151.3M | $126.8M | ···· | ···· | ···· |
| Cost of Revenue | $229.3M | $160.3M | $123.2M | $50.3M | ···· | ···· | ···· |
| Gross Profit | -$38.2M | $63.6M | $28.1M | $76.5M | ···· | ···· | ···· |
| Research & Development | $0.00 | $0.00 | $0.00 | $0.00 | ···· | ···· | ···· |
| SG&A Expenses | $46.6M | $36.4M | $32.7M | $85.2M | ···· | ···· | ···· |
| Operating Expenses | $349.6M | $401.0M | $71.8M | $96.6M | ···· | ···· | ···· |
| EBITDA | -$804.2M | -$588.4M | $61.1M | $39.7M | ···· | ···· | ···· |
| Operating Income | -$387.8M | -$337.4M | -$43.7M | -$20.1M | ···· | ···· | ···· |
| Interest Expense | $160.5M | $36.6M | $1.7M | $2.0M | ···· | ···· | ···· |
| Income Before Tax | -$1.12B | -$825.6M | -$44.3M | -$22.2M | ···· | ···· | ···· |
| Income Tax Expense | -$3.6M | -$3.3M | $318K | $3.6M | ···· | ···· | ···· |
| Net Income | -$1.12B | -$822.2M | -$44.6M | -$25.8M | ···· | ···· | ···· |
| Basic EPS | $-2.87 | $-2.15 | $-0.14 | $-0.10 | ···· | ···· | ···· |
| Basic Shares | 409M | 382M | 323M | 252M | ···· | ···· | ···· |
| Diluted Shares | 409M | 382M | 323M | 252M | ···· | ···· | ···· |
Earnings Summary
Revenue
$24.8M
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
-$0.65
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
+2851.5%
Cash Change
+6311.5%
Margin Change
-972.1 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
- Cash position grew
What Weakened
- Margins contracted
- Debt increased
Potential Score Impact
Positive indicators included EPS growth, cash levels. Pressure indicators included revenue growth, debt levels, net income margin. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue declined 43.0%. EPS increased 441.7%. Cash increased 6311.5%. Total debt increased 2851.5%. Net income margin declined by 972.1 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
31
Smart Money
31
Number of Gurus
2
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
6 historical recordsHistorical Score Chart
3 of 6 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
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Rumor Mill · CIFR
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
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