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CIFR (Cipher Mining Inc.) Stock Financials & Earnings | Market Cap Arena
CIFR
Cipher Mining Inc.
Mkt Cap
$6B
Financial Services
·
Financial - Capital Markets
·
🇺🇸 United States
·
NASDAQ
Revenue (TTM)
$224M
Net Income (TTM)
-$822M
EPS (TTM)
-$2.17
Free Cash Flow (TTM)
-$696M
Gross Margin
-60.5%
Op. Margin
-76.7%
Net Margin
-367.2%
FCF Margin
-310.7%
P/S Ratio (TTM)
26.0x
P/E Ratio (TTM)
—
YoY Rev Growth
+48.0%
Employees
—
Earnings Reports
▶
Q4 2025
Browse All Reports
Quarterly
FY
Revenue & Profitability
Revenue
Gross Profit
Operating Income
Quarter
Revenue
Gross Profit
Op. Income
Q1 23
$22M
$2M
-$4M
Q2 23
$31M
$3M
-$12M
Q3 23
$30M
$225K
-$19M
Q4 23
$43M
$30M
$16M
Q1 24
$48M
$20M
$47M
Q2 24
$37M
$6M
-$16M
Q3 24
$24M
-$6M
-$91M
Q4 24
$42M
$7M
$17M
Q1 25
$49M
$20M
-$38M
Q2 25
$44M
$13M
-$45M
Q3 25
$72M
$31M
-$38M
Q4 25
$60M
-$198M
-$51M
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Valuation
P/S Ratio
P/E Ratio
Quarter
P/S
P/E
Q1 23
233.2x
—
Q2 23
103.6x
—
Q3 23
67.3x
—
Q4 23
45.8x
—
Q1 24
38.0x
301.0x
Q2 24
36.6x
337.6x
Q3 24
38.1x
—
Q4 24
38.4x
—
Q1 25
38.2x
—
Q2 25
36.6x
—
Q3 25
28.2x
—
Q4 25
26.0x
—
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Operating Cash Flow
Operating Cash Flow
Free Cash Flow
Quarter
Operating CF
Free CF
Q1 23
$11M
-$8M
Q2 23
-$18M
-$30M
Q3 23
-$19M
-$25M
Q4 23
-$127M
-$144M
Q1 24
-$27M
-$39M
Q2 24
-$25M
-$65M
Q3 24
-$7M
-$183M
Q4 24
-$29M
-$104M
Q1 25
-$47M
-$147M
Q2 25
-$56M
-$88M
Q3 25
-$50M
-$95M
Q4 25
-$54M
-$366M
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Capital Expenditures
CapEx
Quarter
CapEx
Q1 23
$19M
Q2 23
$12M
Q3 23
$6M
Q4 23
$18M
Q1 24
$13M
Q2 24
$40M
Q3 24
$176M
Q4 24
$75M
Q1 25
$100M
Q2 25
$31M
Q3 25
$45M
Q4 25
$311M
marketcaparena.com
OpEx vs Revenue Growth (YoY)
Revenue Growth
OpEx Growth
Quarter
Revenue Growth
OpEx Growth
Q1 23
—
+48.2%
Q2 23
—
+47.7%
Q3 23
—
+183.4%
Q4 23
+1329.7%
-47.8%
Q1 24
+119.9%
-94.8%
Q2 24
+17.9%
+22.3%
Q3 24
-20.5%
+133.8%
Q4 24
-2.8%
-8.8%
Q1 25
+1.7%
+6343.2%
Q2 25
+18.4%
+67.6%
Q3 25
+197.5%
-5.3%
Q4 25
+41.4%
+339.6%
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Stock-Based Compensation
SBC ($)
% of Revenue
Quarter
SBC ($)
% of Revenue
Q1 23
$9M
40.2%
Q2 23
$9M
29.4%
Q3 23
$11M
35.3%
Q4 23
$10M
22.5%
Q1 24
$8M
17.3%
Q2 24
$13M
36.2%
Q3 24
$10M
42.4%
Q4 24
$10M
24.3%
Q1 25
$9M
18.7%
Q2 25
$10M
24.1%
Q3 25
$8M
11.4%
Q4 25
$25M
41.8%
marketcaparena.com
OpEx Breakdown
G&A
Quarter
G&A
Q1 23
$5M
Q2 23
$9M
Q3 23
$7M
Q4 23
$23M
Q1 24
$6M
Q2 24
$8M
Q3 24
$9M
Q4 24
$9M
Q1 25
$9M
Q2 25
$9M
Q3 25
$8M
Q4 25
$10M
marketcaparena.com
Revenue Segments
Bitcoin Mining
Quarter
Bitcoin Mining
Q1 25
$49M
Q2 25
$44M
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War Chest
Cash & Equivalents
Short-Term Investments
Quarter
Cash
Short-term Investments
Total
Q1 23
$4M
$0
$4M
Q2 23
$2M
$0
$2M
Q3 23
$3M
$0
$3M
Q4 23
$86M
$0
$86M
Q1 24
$89M
$123M
$212M
Q2 24
$123M
$0
$123M
Q3 24
$25M
$0
$25M
Q4 24
$6M
$0
$6M
Q1 25
$23M
$0
$23M
Q2 25
$63M
$0
$63M
Q3 25
$1.2B
$0
$1.2B
Q4 25
$628M
$0
$628M
marketcaparena.com
Shares Outstanding
Shares Outstanding
Quarter
Shares (Diluted)
QoQ Change
Q1 23
249M
+0.4%
Q2 23
249M
+0.2%
Q3 23
252M
+1.1%
Q4 23
291M
+15.6%
Q1 24
304M
+4.6%
Q2 24
314M
+3.3%
Q3 24
333M
+5.8%
Q4 24
364M
+9.5%
Q1 25
361M
-1.1%
Q2 25
375M
+4.0%
Q3 25
376M
+0.4%
Q4 25
382M
+1.4%
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Revenue Per Employee
Revenue / Employee
Year
Revenue/Employee
Employees
FY 20
$0
2
FY 21
$0
10
FY 22
$117K
26
FY 23
$4M
35
FY 24
$4M
43
FY 25
$3M
66
marketcaparena.com