# Cipher Mining Inc. (CIFR)

**Exchange:** NASDAQ  
**Sector:** Financial Services  
**Market cap:** $8.02B  
**Price:** $21.02 (-8.75%)

> Cipher Mining Inc. is a digital infrastructure company focused on operating within the Bitcoin mining ecosystem in the United States. The company develops and runs industrial-scale data centers designed to support energy-intensive Bitcoin mining operations and related high-performance computing workloads. Its facilities emphasize large-scale, efficient processing capacity, connecting specialized mining hardware to reliable power sources to validate Bitcoin transactions and secure the network. Cipher Mining Inc. primarily serves participants in the digital asset and blockchain economy, providing the computational backbone that underpins Bitcoin’s decentralized ledger. By concentrating on U.S.-based sites and industrial-grade data centers, the company plays a role in anchoring Bitcoin network infrastructure within regulated, large-scale power markets. Founded in 2021 and headquartered in New York, New York, Cipher Mining Inc. operates as a specialized technology and infrastructure provider at the intersection of cryptocurrencies, data processing, and power-intensive computing.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $224M | $143M | -$422M | -$822M | — |
| 2024 | $151M | $89M | -$44M | -$45M | — |
| 2023 | $127M | $77M | -$20M | -$26M | — |
| 2022 | $3M | $2M | -$37M | -$39M | — |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $4.29B | $3.46B | $806M | $628M | $2.71B |
| 2024 | $855M | $173M | $682M | $6M | — |
| 2023 | $566M | $75M | $491M | $74M | — |
| 2022 | $418M | $76M | $343M | $12M | — |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | -$208M | $488M | -$696M |
| 2024 | -$88M | $139M | -$227M |
| 2023 | -$94M | $20M | -$115M |
| 2022 | -$21M | $39M | -$60M |
| 2021 | -$32M | $5M | -$37M |

Source: [CompaniesByCap](https://companiesbycap.com/company/CIFR)