Cipher Mining runs large data centers in Texas that have so far mainly mined Bitcoin. The company increasingly also leases space and power at its sites for computing power in the field of artificial intelligence. As of Oct 16, 2026
As of Oct 16, 2026Fact sheet (from the annual report)Other financial services · New York, USAfull fact sheet
Cipher Digital develops and operates large data centers for energy-intensive computing and has transformed itself from a pure Bitcoin miner for this purpose. Until the end of 2025, revenue came from Bitcoin mining, for which the company supplied computing power to mining pools in return for block rewards and fees. In 2025 a subsidiary signed long-term leases with Fluidstack for a data center it is building in Barber Lake; Google backstops certain obligations of the tenant. In October 2025 this was followed by a 15-year lease with Amazon Web Services for the Black Pearl data center under construction. It also operates a data center for Bitcoin mining in Texas and holds further sites in Texas and Ohio.
Our own calculation from the exchange’s daily candles, as of Oct 26, 2026. “All-time” applies since the start of this series, not to the whole market. Changes in percent; the TradingView chart shows prices. “Today” = change of the last trading day versus the previous day. Not investment advice.
Pullback in trend · Analysis method
The price of CIFR is currently in no zone of this method. The check runs daily after the market close.
Whether a price will soon reach a zone, you see from Watcher. Plans and pricing
How the zone is formed
What is this? In an intact uptrend (price above the 200-day line, 50-day line rising), the price pulls back to the 50-day line after a rise and closes back above it.
Buy zone: around the 50-day line (± 0.5 ATR). Stop: 1.5 ATR below it. Target 1: the last high, Target 2: 2 ATR above it.
The pattern is valid for at most 15 trading days and expires if the price falls below the stop. This is a calculated analysis, not a forecast and not a call to buy. Risk notice and investment advice
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SEC filing (10-K, 10-Q)Required reports of listed companies to the US Securities and Exchange Commission (SEC): 10-K is the annual report, 10-Q the quarterly report, 20-F the annual report of foreign companies. We show the figures of the first filing.Example: 10-K for the fiscal year ending Sep 27, 2025, filed on Oct 31, 2025.More in the Academy: Lesson revenue, profit and margin
Cipher Mining · Sector Technology · amounts in USD
Information only – does not affect our buy zones, not investment advice. Source: SEC filings, As of Feb 24, 2026.
In short
Light green: Revenue grew over 3 years (+319.3% per year), at least as fast as the sector median.
Light red: Loss in the last fiscal year.
Light red: Debt much higher than usual in the sector.
Light red: Profit in 0 of 5 fiscal years.
Summarized from the lights below. Describes the reported figures – not a recommendation to buy or sell.
RevenueNet incomeNet margin (below)in USD
−1B−500M0500M
2020Fiscal year 2020 (Jan 1, 2020 – Dec 31, 2020): Revenue not available · Net income −107.0K USD · Net margin not available
2022Fiscal year 2022 (Jan 1, 2022 – Dec 31, 2022): Revenue 3.0M USD · Net income −39.1M USD · Net margin −1,285.9%
2023Fiscal year 2023 (Jan 1, 2023 – Dec 31, 2023): Revenue 126.8M USD · Net income −25.8M USD · Net margin −20.3%
2024Fiscal year 2024 (Jan 1, 2024 – Dec 31, 2024): Revenue 151.3M USD · Net income −44.6M USD · Net margin −29.5%
2025Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 223.9M USD · Net income −822.2M USD · Net margin −367.2%
Margin
−1,286%−20%−30%−367%
RevenueNet incomeNet margin (below)in USD
−750M−500M−250M0250M
Q3/23Quarter Q3/23 (Jul 1, 2023 – Sep 30, 2023): Revenue 30.3M USD · Net income −17.7M USD · Net margin −58.4%
Q4/23Quarter Q4/23 (Oct 1, 2023 – Dec 31, 2023): Revenue 43.4M USD · Net income 11.2M USD · Net margin 25.9% · Q4 derived (year minus 9 months), may be distorted by restatements
Q1/24Quarter Q1/24 (Jan 1, 2024 – Mar 31, 2024): Revenue 48.1M USD · Net income 39.9M USD · Net margin 82.9%
Q2/24Quarter Q2/24 (Apr 1, 2024 – Jun 30, 2024): Revenue 36.8M USD · Net income −15.3M USD · Net margin −41.5%
Q3/24Quarter Q3/24 (Jul 1, 2024 – Sep 30, 2024): Revenue 24.1M USD · Net income −86.8M USD · Net margin −359.9%
Q4/24Quarter Q4/24 (Oct 1, 2024 – Dec 31, 2024): Revenue 42.2M USD · Net income 17.5M USD · Net margin 41.5% · Q4 derived (year minus 9 months), may be distorted by restatements
Q1/25Quarter Q1/25 (Jan 1, 2025 – Mar 31, 2025): Revenue 49.0M USD · Net income −39.0M USD · Net margin −79.6%
Q2/25Quarter Q2/25 (Apr 1, 2025 – Jun 30, 2025): Revenue 43.6M USD · Net income −45.8M USD · Net margin −105.1%
Q3/25Quarter Q3/25 (Jul 1, 2025 – Sep 30, 2025): Revenue 71.7M USD · Net income −3.3M USD · Net margin −4.6%
Q4/25Quarter Q4/25 (Oct 1, 2025 – Dec 31, 2025): Revenue 59.7M USD · Net income −734.2M USD · Net margin −1,229.6% · Q4 derived (year minus 9 months), may be distorted by restatements
Q1/26Quarter Q1/26 (Jan 1, 2026 – Mar 31, 2026): Revenue 34.8M USD · Net income −114.3M USD · Net margin −328.1%
Q2/26Quarter Q2/26 (Apr 1, 2026 – Jun 30, 2026): Revenue 24.8M USD · Net income −267.5M USD · Net margin −1,077.1%
Q4/25Quarter Q4/25 (Oct 1, 2025 – Dec 31, 2025): Earnings per share not reported separately for Q4
Q1/26Quarter Q1/26 (Jan 1, 2026 – Mar 31, 2026): Earnings per share −0.28 USD
Q2/26Quarter Q2/26 (Apr 1, 2026 – Jun 30, 2026): Earnings per share −0.65 USD
No reported values for “Dividend per share” in this interval.
No reported values for “Dividend per share” in this interval.
Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 223.9M USD · Net income −822.2M USD · Net margin −367.2%
Key figures with traffic lights
Each light follows a simple, disclosed rule. The comparison is with the sector median Sector medianThe middle value of all companies in a sector: half are above it, half below. Unlike the average, single outliers hardly distort it.Example: Margins 4%, 8%, 10%, 12%, 60% → median 10%, average 18.8%.More in the Academy: Lesson putting the P/E in context of all 97 symbols in the Technology sector on our list (current members of the S&P 500 and other lists).
Revenue growth
Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth
Light green: above sector
+319.3%per year, last 3 years
Sector Technology: median +10.0% (93 symbols)
What does this mean? Revenue: over 3 years it grew by 319.3% per year on average – at least as fast as the median company in the sector (+10.0%).
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
Net income (total)
Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth
Light gray: not computable
–per year, last 5 years
Sector Technology: median +13.3% (62 symbols)
per share: not available
What does this mean? There was a loss in the first or last year. An annual growth rate cannot be calculated meaningfully then.
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
What does this mean? Of every 100 USD in revenue there was no profit but a loss of 367.17 USD.
Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.
Debt / equity
Debt-to-equity ratioFinancial debt (loans, bonds) divided by equity. A high value amplifies good and bad years alike. The key figures bar in the chart only uses long-term financial debt.Example: Financial debt €300m, equity €500m → 0.6.More in the Academy: Lesson debt, dividends and growth
Light red: much higher
9.69latest balance sheet
Sector Technology: median 0.46 (65 symbols)
What does this mean? For every 1 USD of equity there is 9.69 USD of financial debt – more than twice as much as the median company in the sector (0.46). More debt amplifies good and bad years alike.
Light rule: Green: at most the sector median · Yellow: up to twice the median · Red: more than twice · Gray: without a sector comparison.
Payout ratio
Payout ratioThe share of profit that a company pays out as a dividend. Above 100% it pays out more than it earns.Example: Dividend €1, earnings per share €2.50 → payout ratio 40%.More in the Academy: Lesson debt, dividends and growth
Light gray: none found
–Dividend / earnings per share
Sector Technology: median 30% (36 symbols)
What does this mean? The loaded SEC filings of the last two fiscal years contain no dividend per share. Either the company pays none, or it reports it under a different tag.
Light rule: Green: up to 60% of earnings · Yellow: up to 100% · Red: more than earnings or a dividend despite a loss · Gray for real estate (REITs). The sector median is for comparison only.
Profitable years
Profitable yearsHow many of the last fiscal years ended with a profit rather than a loss on the bottom line. The figure shows how consistently a company earns.Example: Profit in 9 of 10 years → one loss year.More in the Academy: Lesson revenue, profit and margin
Light red: 5 loss years
0 of 5fiscal years with a profit
What does this mean? In 0 of the last 5 fiscal years the bottom line showed a profit. 5 years ended with a loss.
Light rule: Green: profit in every year · Yellow: one loss year · Red: several loss years (at least 3 years needed).
Last fiscal year and 13F
Information, not a trading signal · Source: SEC EDGAR
Revenue (FY)
223.9M USD
Revenue vs. prior year
+48.0%
Net income (FY)
−822.2M USD
Net income vs. prior year
–
EPS (FY)
-2.15 USD
13F funds with a position
–
Funds vs. prior quarter
–
Shares held vs. prior quarter
–
Fiscal year to Dec 31, 2025 · 10-K filed Feb 24, 2026 · Balance sheet Jun 30, 2026 (filed Aug 4, 2026) · Price-based figures (P/E, P/S, dividend yield, market cap) only when logged in. · Values as first reported; debt = reported financial debt (US GAAP: long-term).13F: reporting date Jun 30, 2026, 9 tracked funds have filed (latest Aug 14, 2026), filed with up to 45 days of delay. Stock positions only; comparison with Mar 31, 2026 only across funds that filed for both quarters.
All figures as a table
Fiscal years (amounts in USD, per share in USD)
Year
End
Revenue
Net income
Margin
Earnings per share
Dividend per share
Payout
2025
Dec 31, 2025
223.9M
−822.2M
−367.2%
−2.15
–
–
2024
Dec 31, 2024
151.3M
−44.6M
−29.5%
−0.14
–
–
2023
Dec 31, 2023
126.8M
−25.8M
−20.3%
−0.10
–
–
2022
Dec 31, 2022
3.0M
−39.1M
−1,285.9%
−0.16
–
–
2020
Dec 31, 2020
–
−107.0K
–
–
–
–
Quarters (amounts in USD, per share in USD)
Quarter
End
Revenue
Net income
Margin
Earnings per share
Dividend per share
Payout
Q2/26
Jun 30, 2026
24.8M
−267.5M
−1,077.1%
−0.65
–
–
Q1/26
Mar 31, 2026
34.8M
−114.3M
−328.1%
−0.28
–
–
Q4/25*
Dec 31, 2025
59.7M
−734.2M
−1,229.6%
–
–
–
Q3/25
Sep 30, 2025
71.7M
−3.3M
−4.6%
−0.01
–
–
Q2/25
Jun 30, 2025
43.6M
−45.8M
−105.1%
−0.12
–
–
Q1/25
Mar 31, 2025
49.0M
−39.0M
−79.6%
−0.11
–
–
Q4/24*
Dec 31, 2024
42.2M
17.5M
41.5%
–
–
–
Q3/24
Sep 30, 2024
24.1M
−86.8M
−359.9%
−0.26
–
–
Q2/24
Jun 30, 2024
36.8M
−15.3M
−41.5%
−0.05
–
–
Q1/24
Mar 31, 2024
48.1M
39.9M
82.9%
0.13
–
–
Q4/23*
Dec 31, 2023
43.4M
11.2M
25.9%
–
–
–
Q3/23
Sep 30, 2023
30.3M
−17.7M
−58.4%
−0.07
–
–
* Q4 derived: fiscal year minus the 9-month value (EPS cannot be derived this way); may be distorted by restatements.
How we calculate: values as first reported to the SEC (later corrections are left out), a fixed order of reporting tags per figure, partial sums are never added up. Growth per year Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth over 5 years (otherwise 3 years). Quarters are labeled by the calendar quarter in which they end.
Insiders
Insider transactionsExecutives, directors and major shareholders (over 10%) of US companies report their own transactions in their company’s stock to the SEC within two business days (Form 4). Purchases in the market count as more meaningful than sales (often taxes, estate planning).Example: Three executives acquire stock worth a total of 2 million USD within two weeks → “purchases by several insiders”.More in the Academy: Glossary
Source: mandatory filings with the SEC (Form 4), open-market purchases and sales only. General information, not investment advice.
Trend score -70
Price vs. EMA 50-15
Price vs. EMA 200-15
EMA 50 vs. EMA 200-20
ADX (trend strength)-15
Highs and lows+10
Relative strength-15
Volatility and trend strength
ADX 14 (trend strength)36.4
Rel. strength 60 d−66.0%
ATR ATR (Average True Range)The average range per trading day over the last 14 days. It makes distances comparable, whether a stock costs 10 or 1,000.Example: ATR 2.50 at a price of 100: 0.4 ATR is 1.00, i.e. 1%.More in the Academy: Lesson ATR and moving averages as price values only when logged in.