Cipher Digital Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $223.9M | $151.3M | $126.8M | $3.0M | — |
| Operating income | -$421.6M | -$43.7M | -$20.1M | -$37.4M | -$72.2M |
| Interest expense | $36.6M | $1.7M | $2.0M | $137,000 | $27,000 |
| Pretax income | -$825.6M | -$44.3M | -$22.2M | -$37.2M | -$72.2M |
| Income tax expense | -$3.3M | $318,000 | $3.6M | $1.8M | $0 |
| Net income | -$822.2M | -$44.6M | -$25.8M | -$39.1M | -$72.2M |
| Balance Sheet | |||||
| Cash and equivalents | $628.3M | $5.6M | $74.2M | $11.9M | $209.8M |
| Current assets | $2.7B | $168.2M | $155.5M | $47.7M | $223.7M |
| Total assets | $4.3B | $855.4M | $566.1M | $418.5M | $354.2M |
| Current liabilities | $699.1M | $131.8M | $33.8M | $40.3M | $499,000 |
| Total liabilities | $3.5B | $173.5M | $74.8M | $75.6M | $636,000 |
| Total debt | $3.2B | — | — | — | — |
| Stockholders' equity | $805.5M | $682.0M | $491.3M | $342.9M | $353.5M |
| Cash Flow Statement | |||||
| Cash from operations | -$207.9M | -$87.5M | -$94.2M | -$20.9M | -$31.7M |
| Depreciation and amortization | $199.0M | $102.4M | $59.1M | $4.4M | $5,000 |
| Stock-based compensation | $52.8M | $42.1M | $38.5M | $41.5M | $63.8M |
| Capital expenditure | $487.9M | $139.5M | $20.5M | $39.2M | $5.1M |
| Free cash flow | -$695.9M | -$227.0M | -$114.7M | -$60.1M | -$36.8M |
| Share repurchases | $89.6M | $27.6M | $3.9M | $3.1M | $23.2M |
| Impairments | $45.3M | $0 | $0 | $0 | $0 |
Shares outstanding 409.0M · Free float 82.6%
Annual filing data through FY ended December 31, 2025; float as of July 15, 2026.