Business
Cipher develops and runs industrial-scale data centers for energy-intensive compute, with roots in bitcoin mining and an expansion toward high-performance computing infrastructure.
Cipher grew revenue, but cash burn and losses widened sharply.
The read at a glance✓ Audited against SEC data
- Business mix — Data centers and bitcoin miningNote
- Revenue — $223.9M, +48.0%OK
- Net loss — ($822.2M), much widerWatch
- FCF — ($695.9M), weakerWatch
- Capex — $487.9M, +249.8%Watch
- Altman/EQ — Weak screen; EQ greyWatch
- Insiders — 0 purchases / 56 salesWatch
Where the revenue comes from
Fiscal 2025, as Cipher Digital Inc. reports it. History and quarterly detail are in the app.
- Bitcoin Mining$223.9M
Leadership changes
From Cipher Digital Inc.'s own filings, the day they're filed.
- Edward Farrell · Chief Financial Officer · departureeff. 2025-10-14
- Gregory Mumford · Chief Financial Officer · departureeff. 2025-10-14
Latest filings
- 10-Q · Quarterly report2026-08-04
- 8-K · Company announcement2026-08-04
- 8-K · Company announcement2026-06-15
- 8-K · Company announcement2026-06-09
- 8-K · Company announcement2026-06-08
In the full recordFree for 14 days
- What changed🔒
- Insider signal🔒
- Growth quality🔒
- Margins & accounting🔒
- Capital allocation🔒
- Real risks🔒
- The long arc🔒
- Company history🔒
- Main tension🔒
- The filings, readable — with what changed vs the prior year highlighted🔒
- Full financial statements, industry-aware, sources cited throughout🔒
- Forensic score history & components — the trend, not one year🔒
- Ownership: insider buys/sells, clusters, activist stakes🔒
- Ana — ask about Cipher Digital Inc., every answer cited to the official filings🔒
Every figure comes from the company's filings, and analysis whose figures don't match SEC data is rejected before publication.
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