(CIFR) Cipher Mining - Overview
Sector: Technology | Industry: Information Technology Services | Exchange: NASDAQ (USA) | Market Cap: 9.674m USD | Total Return: 536% in 12m
Avg Turnover: 568M
Warnings
No concerns identified
Tailwinds
Rs Leader, Idiosyncratic Leader, Tailwind, Pullback 52w
Cipher Digital Inc., formerly Cipher Mining Inc., develops and operates industrial-scale data centers in the United States. The company’s business model focuses on two primary verticals: bitcoin mining and high-performance compute (HPC) hosting for hyperscaler tenants.
The company maintains a geographically diverse pipeline of data center facilities, leveraging large-scale power infrastructure to support intensive computational workloads. In the current market, bitcoin miners are increasingly diversifying into HPC and AI hosting to stabilize revenue streams and capitalize on the growing demand for specialized data center space.
Founded in 2021 and headquartered in New York, the firm rebranded in early 2026 to reflect its broader focus on digital infrastructure beyond cryptocurrency. Investors may find additional valuation metrics and peer comparisons by exploring ValueRay.
- Expansion into high-performance compute hosting diversifies revenue beyond volatile bitcoin mining
- Strategic power capacity acquisition at low cost drives competitive hashcost advantages
- Bitcoin price fluctuations directly impact mining profitability and operational cash flow
- Development of hyperscaler data center facilities creates long-term recurring lease revenue
- Execution of industrial-scale infrastructure pipeline determines future hash rate growth potential
| Net Income: -277.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.15 > 0.02 and ΔFCF/TA 40.11 > 1.0 |
| NWC/Revenue: 1.43k% < 20% (prev 10.40%; Δ 1.42k% < -1%) |
| CFO/TA -0.01 > 3% & CFO -69.2m > Net Income -277.7m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 3.13 > 1.5 & < 3 |
| Outstanding Shares: last quarter (405.3m) vs 12m ago 12.41% < -2% |
| Gross Margin: -6.30% > 18% (prev 18.14%; Δ -24.44% > 0.5%) |
| Asset Turnover: 5.06% > 50% (prev 16.64%; Δ -11.58% > 0%) |
| Interest Coverage Ratio: -1.62 > 6 (EBIT TTM -195.8m / Interest Expense TTM 120.7m) |
| A: 0.41 (Total Current Assets 3.89b - Total Current Liabilities 1.25b) / Total Assets 6.39b |
| B: -0.17 (Retained Earnings -1.12b / Total Assets 6.39b) |
| C: -0.05 (EBIT TTM -195.8m / Avg Total Assets 3.65b) |
| D: 0.13 (Book Value of Equity 714.2m / Total Liabilities 5.65b) |
| Altman-Z'' = 1.92 = BBB |
| DSRI: 0.21 (Receivables 8.49m/33.6m, Revenue 184.9m/152.1m) |
| GMI: 1.00 (fallback, negative margins) |
| AQI: 1.16 (AQ_t 0.19 / AQ_t-1 0.16) |
| SGI: 1.22 (Revenue 184.9m / 152.1m) |
| TATA: -0.03 (NI -277.7m - CFO -69.2m) / TA 6.39b) |
| Beneish M = -3.43 (Cap -4..+1) = AA |
As of June 07, 2026, the stock is trading at USD 22.45 with a total of 25,826,596 shares traded.
Over the past week, the price has changed by -5.07%,
over one month by +1.58%,
over three months by +48.18% and
over the past year by +535.98%.
Cipher Mining has received a consensus analysts rating of 4.55. Therefore, it is recommended to buy CIFR.
- StrongBuy: 7
- Buy: 3
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 31.6 | 40.8% |
P/E Forward = 85.4701
P/S = 46.106
P/B = 13.5484
Revenue TTM = 184.9m USD
EBIT TTM = -195.8m USD
EBITDA TTM = -19.4m USD
Long Term Debt = 4.38b USD (from longTermDebt, last quarter)
Short Term Debt = 355.3m USD (from shortLongTermDebt, last quarter)
Debt = 4.75b USD (corrected: LT Debt 4.38b + ST Debt 355.3m) + Leases 14.6m
Net Debt = 4.03b USD (calculated: Debt 4.75b - CCE 715.2m)
Enterprise Value = 13.7b USD (9.67b + Debt 4.75b - CCE 715.2m)
Interest Coverage Ratio = -1.62 (Ebit TTM -195.8m / Interest Expense TTM 120.7m)
EV/FCF = -14.74x (Enterprise Value 13.7b / FCF TTM -929.7m)
FCF Yield = -6.78% (FCF TTM -929.7m / Enterprise Value 13.7b)
FCF Margin = -502.7% (FCF TTM -929.7m / Revenue TTM 184.9m)
Net Margin = -150.1% (Net Income TTM -277.7m / Revenue TTM 184.9m)
Gross Margin = -6.30% ((Revenue TTM 184.9m - Cost of Revenue TTM 196.6m) / Revenue TTM)
Gross Margin QoQ = -51.29% (prev -105.9%)
Tobins Q-Ratio = 2.14 (Enterprise Value 13.7b / Total Assets 6.39b)
Interest Expense / Debt = 2.54% (Interest Expense 120.7m / Debt 4.75b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -154.7m (EBIT -195.8m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 3.13 (Total Current Assets 3.89b / Total Current Liabilities 1.25b)
Debt / Equity = 6.65 (Debt 4.75b / totalStockholderEquity, last quarter 714.2m)
Debt / EBITDA = -208.1 (out of range, set to none) (Net Debt 4.03b / EBITDA -19.4m)
Debt / FCF = -4.34 (negative FCF - burning cash) (Net Debt 4.03b / FCF TTM -929.7m)
Total Stockholder Equity = 740.1m (last 4 quarters mean from totalStockholderEquity)
RoA = -7.60% (Net Income -277.7m / Total Assets 6.39b)
RoE = -37.52% (Net Income TTM -277.7m / Total Stockholder Equity 740.1m)
RoCE = -3.83% (EBIT -195.8m / Capital Employed (Equity 740.1m + L.T.Debt 4.38b))
RoIC = -2.98% (negative operating profit) (NOPAT -154.7m / Invested Capital 5.18b)
WACC = 13.86% (E(9.67b)/V(14.4b) * Re(19.68%) + D(4.75b)/V(14.4b) * Rd(2.54%) * (1-Tc(0.21)))
Discount Rate = 19.68% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 95.56 | Cagr: 15.87%
[DCF] Fair Price = unknown (Cash Flow -929.7m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.54 | # QB: 0
Revenue Correlation: 80.37 | Revenue CAGR: 43.55% | SUE: -0.19 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.08 | Chg30d=-53.40% | Revisions=-20% | Analysts=3
EPS next Quarter (2026-09-30): EPS=-0.06 | Chg30d=-33.33% | Revisions=-20% | Analysts=3
EPS current Year (2026-12-31): EPS=-0.32 | Chg30d=-32.29% | Revisions=N/A | GrowthEPS=-629.2% | GrowthRev=+6.8%
EPS next Year (2027-12-31): EPS=0.67 | Chg30d=+24.07% | Revisions=N/A | GrowthEPS=+311.0% | GrowthRev=+265.9%
[Analyst] Revisions Ratio: -20%