# Cipher Digital Inc.: overview

CIFR · Nasdaq · CIK 1819989 · [Financials](/sectors/financials.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/cifr.md) · [Financials](/companies/cifr/financials.md) · [Filings](/companies/cifr/filings.md) · [Insiders](/companies/cifr/insiders.md)

Latest reported revenue: [$24.8m](/filings/0001819989-26-000041.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 4, 2026 (XBRL us-gaap:Revenues, accession 0001819989-26-000041).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [24.1](/filings/0001819989-25-000112.md) | [42.2 d](/filings/0001819989-26-000009.md) | [49.0](/filings/0001819989-26-000028.md) | [43.6](/filings/0001819989-26-000041.md) | [71.7](/filings/0001819989-25-000112.md) | [59.7 d](/filings/0001819989-26-000009.md) | [34.8](/filings/0001819989-26-000028.md) | [24.8](/filings/0001819989-26-000041.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(379.2%)](/filings/0001819989-25-000112.md) | [40.5% d](/filings/0001819989-26-000009.md) | [(77.8%)](/filings/0001819989-26-000028.md) | [(103.9%)](/filings/0001819989-26-000041.md) | [(52.5%)](/filings/0001819989-25-000112.md) | [(503.4%) d](/filings/0001819989-26-000009.md) | [(328.9%)](/filings/0001819989-26-000028.md) | [(316.2%)](/filings/0001819989-26-000041.md) |
| Net margin | % | [(359.9%)](/filings/0001819989-25-000112.md) | [41.5% d](/filings/0001819989-26-000009.md) | [(79.6%)](/filings/0001819989-26-000028.md) | [(105.1%)](/filings/0001819989-26-000041.md) | [(4.6%)](/filings/0001819989-25-000112.md) | [(1229.6%) d](/filings/0001819989-26-000009.md) | [(328.1%)](/filings/0001819989-26-000028.md) | [(1077.1%)](/filings/0001819989-26-000041.md) |
| Diluted EPS | $ per share | [(0.26)](/filings/0001819989-25-000112.md) | not reported | [(0.11)](/filings/0001819989-26-000028.md) | [(0.12)](/filings/0001819989-26-000041.md) | [(0.01)](/filings/0001819989-25-000112.md) | not reported | [(0.28)](/filings/0001819989-26-000028.md) | [(0.65)](/filings/0001819989-26-000041.md) |
| Free cash flow | $m | [(83.2) d](/filings/0001819989-25-000112.md) | [(76.1) d](/filings/0001819989-26-000009.md) | [(147)](/filings/0001819989-26-000028.md) | [(175) d](/filings/0001819989-26-000041.md) | [(93.8) d](/filings/0001819989-25-000112.md) | [(280) d](/filings/0001819989-26-000009.md) | [(462)](/filings/0001819989-26-000028.md) | [(654) d](/filings/0001819989-26-000041.md) |

- Revenue. XBRL Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2020 (2020-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | not reported | [3.0](/filings/0000950170-24-025442.md) | [127](/filings/0001819989-26-000009.md) | [151](/filings/0001819989-26-000009.md) | [224](/filings/0001819989-26-000009.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | not reported | [(1232.2%)](/filings/0000950170-24-025442.md) | [(15.9%)](/filings/0001819989-26-000009.md) | [(28.9%)](/filings/0001819989-26-000009.md) | [(188.2%)](/filings/0001819989-26-000009.md) |
| Net margin | % | not reported | [(1285.9%)](/filings/0000950170-24-025442.md) | [(20.3%)](/filings/0001819989-26-000009.md) | [(29.5%)](/filings/0001819989-26-000009.md) | [(367.2%)](/filings/0001819989-26-000009.md) |
| Diluted EPS | $ per share | not reported | [(0.16)](/filings/0000950170-24-025442.md) | [(0.10)](/filings/0001819989-26-000009.md) | [(0.14)](/filings/0001819989-26-000009.md) | [(2.15)](/filings/0001819989-26-000009.md) |
| Free cash flow | $m | not reported | [(60.1)](/filings/0000950170-24-025442.md) | [(115)](/filings/0001819989-26-000009.md) | [(227)](/filings/0001819989-26-000009.md) | [(696)](/filings/0001819989-26-000009.md) |

- Revenue. XBRL Revenue: us-gaap:Revenues.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:Revenues.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:Revenues.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/cifr/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [V3 Holding Ltd](/funds/1887845.md) | 2026-06-30 | $1.43bn | 58,316,694 |  | Reduced −3,000,000 |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $745.2m | 30,414,668 |  | Added +1,951,810 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $591.0m | 24,124,026 |  | Added +1,813,729 |
| [UBS Group AG](/funds/1610520.md) | 2026-06-30 | $560.0m | 22,858,058 | Call | Added +1,380,400 |
| [D. E. Shaw & Co., Inc.](/funds/1009207.md) | 2026-06-30 | $434.6m | 17,740,400 | Call | Unchanged |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $404.1m | 16,494,048 |  | Added +346,265 |
| [JANE STREET GROUP, LLC](/funds/1595888.md) | 2026-06-30 | $378.1m | 15,434,258 |  | Added +4,005,644 |
| [WELLS FARGO & COMPANY/MN](/funds/72971.md) | 2026-06-30 | $370.3m | 15,115,000 | Call | Added +98,000 |
| [D. E. Shaw & Co., Inc.](/funds/1009207.md) | 2026-06-30 | $355.4m | 14,507,309 |  | Reduced −1,881,226 |
| [SUSQUEHANNA INTERNATIONAL GROUP, LLP](/funds/1446194.md) | 2026-06-30 | $342.4m | 13,976,100 | Call | Added +1,501,300 |

## Recent filings

[All 627 filings](/companies/cifr/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-16 | 17:26 ET | [8-K](/filings/0001193125-26-424297.md) | 1.01 Entry into a material agreement; 2.03 New direct financial obligation; 3.02 Unregistered sale of equity; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001193125-26-424297 |
| 2026-10-14 | 07:49 ET | [8-K](/filings/0001193125-26-421035.md) | 8.01 Other events; 9.01 Financial statements and exhibits | 0001193125-26-421035 |
| 2026-10-13 | 08:10 ET | [8-K](/filings/0001193125-26-419743.md) | 7.01 Regulation FD disclosure; 8.01 Other events; 9.01 Financial statements and exhibits | 0001193125-26-419743 |
| 2026-10-07 | 16:18 ET | [SCHEDULE 13D/A](/filings/0001123292-26-001382.md) | Ownership report, active investor, amended | 0001123292-26-001382 |
| 2026-09-25 | 08:04 ET | [8-K](/filings/0001819989-26-000043.md) | 7.01 Regulation FD disclosure; 8.01 Other events; 9.01 Financial statements and exhibits | 0001819989-26-000043 |
| 2026-08-04 | 09:07 ET | [10-Q](/filings/0001819989-26-000041.md) | Quarterly report, period 2026-06-30 | 0001819989-26-000041 |
| 2026-08-04 | 07:37 ET | [8-K](/filings/0001819989-26-000038.md) | 2.02 Results of operations; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001819989-26-000038 |
| 2026-06-15 | 17:24 ET | [8-K](/filings/0000950103-26-008994.md) | 1.01 Entry into a material agreement; 2.03 New direct financial obligation; 9.01 Financial statements and exhibits | 0000950103-26-008994 |
| 2026-06-09 | 21:05 ET | [8-K](/filings/0000950103-26-008678.md) | 8.01 Other events; 9.01 Financial statements and exhibits | 0000950103-26-008678 |
| 2026-06-08 | 16:40 ET | [8-K](/filings/0001819989-26-000032.md) | 5.07 Shareholder vote results | 0001819989-26-000032 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001819989-26-000009.md), filed Feb 24, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/3b7d7d4d-5ad7-4adf-a9f4-bb2f64fb4d53)

## About the filer

- CIK: 1819989
- Tickers: CIFR
- Exchange: Nasdaq
- SIC code: 6199 Finance Services
- State of incorporation: not reported
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 27, 2026, 16:27 ET. No prices; not investment advice.