Cipher Mining Inc. (CIFR) AI Stock Analysis

Cipher Mining Inc. is a technology company focused on the field of bitcoin mining within the United States. Founded in 2021 and headquartered in New York, New York, the company is dedicated to establishing and expanding its footprint in the cryptocurrency mining sector, specifically targeting bitcoin as its primary digital asset of interest. Cipher Mining Inc. specializes in the development and operation of cryptocurrency mining facilities, leveraging advanced technologies and infrastructure to maximize mining efficiency and productivity. The company plays a role in securing and validating transactions on the bitcoin network through its mining activities.

Revenue expanded from $3.0M in FY2022 to $126.8M in FY2023, $151.3M in FY2024, and $223.9M in FY2025, representing a 3-year revenue CAGR of 319.3%. However, profitability contracted over this timeframe, with operating margin shifting from -15.9% in FY2023 to -150.7% in FY2025. Annual net income worsened to -$822.2M in FY2025, down from -$44.6M in FY2024. For the trailing twelve months ended June 30, 2026, revenue stood at $191.1M with an operating margin of -301.7% and EPS of -$2.87. In the latest quarter ended June 30, 2026, quarterly revenue fell 43.0% year-over-year, while quarterly earnings grew 19.5%.

As of June 30, 2026, Cipher Mining held $4.06B in cash and short-term investments against total debt of $5.59B, yielding net debt of $1.53B. Shareholders' equity was $562.1M, reflecting a debt-to-equity ratio of 9.94, while total assets stood at $7.50B and the current ratio was 3.00. In FY2025, operating cash flow was -$207.9M, capital expenditures reached $487.9M, and free cash flow was -$695.9M. The company also allocated $89.6M to share buybacks in FY2025.

Cipher Mining trades at a forward P/E of 85.5x and a price-to-sales ratio of 19.5x, both above the median of its US-listed Technology peers of 18.8x and 2.8x, respectively. The enterprise value of $12.37B results in an EV-to-EBITDA multiple of 8.9x, which is below the peer median of 16.6x, and an EV-to-revenue multiple of 64.7x. Over the past year, CIFR shares fell 52.0%, trailing the S&P 500 (SPY) return of 16.8%. The stock's last close of $8.98 is 50.6% below its 200-day average.

Wall Street analysts maintain 14 Strong Buy, 5 Buy, and 2 Hold ratings on CIFR, with zero Sell or Strong Sell recommendations. The mean price target is $29.95, representing a 233.6% upside compared to the last close of $8.98 on October 16, 2026. For the current fiscal year ending December 31, 2026, consensus calls for an EPS estimate of -$0.60 on revenue of $216.4M. For the next fiscal year, 5 analysts project revenue of $849.1M and EPS of $0.22. The company beat EPS estimates in 1 of the last 4 quarters, and its next earnings date is November 2, 2026.

This page is an AI-written research summary of Cipher Mining Inc. (CIFR). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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