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Cipher Mining Inc (CIFR) Stock

Cipher Mining Inc Stock Details, Movements and Public Alerts

Cipher Mining Inc (CIFR): The Bitcoin Miner Pivoting to AI Dominance

When Tyler Page leads Cipher Mining's charge into 2025, he's not just running a Bitcoin mining operation—he's orchestrating a dual-threat infrastructure play. The company's Black Pearl facility near Odessa, Texas, represents the future of flexible data center economics: 300 MW of capacity that can pivot between Bitcoin mining and AI workload hosting based on profitability. With a 10-year AI-hosting agreement with Fluidstack and Google already secured for the Barber Lake facility, and hash rate expansion from 13.5 EH/s to 23.5 EH/s underway, Cipher is positioning itself as the rare crypto miner with genuine AI exposure. After surging 236% in 12 months, the stock trades at the intersection of two of technology's hottest themes.

52-Week Range

$22.00 - $1.86

-15.00% from high · +905.38% from low

Avg Daily Volume

61,936,083

20-day average

100-day avg: 40,014,416

Fundamentals

Valuation Metrics

P/E Ratio (TTM)

N/A

Forward P/E

32.47

Price to Book

7.25

EV/EBITDA

8.93

EPS (TTM)

-$0.45

Price to Sales

46.45

Beta

2.89

More volatile than market

How is CIFR valued relative to its earnings and growth?
Valuation data is not available for this stock.
What is CIFR's risk profile compared to the market?
With a beta of 2.89, Cipher Mining Inc is significantly more volatile than the market. For every 10% market move, this stock tends to move 29% in the same direction. Higher beta stocks offer greater potential returns but with increased risk. The price-to-book ratio of 7.25 shows investors value the company above its book value, which often reflects intangible assets or growth prospects.

Performance & Growth

Profit Margin

-97.00%

Operating Margin

-67.60%

EBITDA

$42.32M

Return on Equity

-21.40%

Return on Assets

-7.68%

Revenue Growth (YoY)

18.40%

Earnings Growth (YoY)

19.50%

How profitable and efficient is CIFR's business model?
Cipher Mining Inc achieves a profit margin of -97.00%, meaning it retains $-97.00 from every $100 in revenue after all expenses. This relatively low margin suggests the company operates in a competitive environment or high-cost industry where profitability is challenging. The operating margin of -67.60% reveals how efficiently the company runs its core business operations before interest and taxes. With ROE at -21.40% and ROA at -7.68%, the company achieves moderate returns on invested capital.
What are CIFR's recent growth trends?
Cipher Mining Inc's revenue grew by 18.40% year-over-year, showing steady progress in growing the business. This positive trajectory indicates the company maintains competitive positioning in its markets. Earnings increased by 19.50% year-over-year, outpacing revenue growth through improved margins. These growth metrics should be evaluated against CAPITAL MARKETS industry averages for proper context.

Company Size & Market

Market Cap

$7.4B

Revenue (TTM)

$158.85M

Revenue/Share (TTM)

$0.45

Shares Outstanding

393.29M

Book Value/Share

$1.94

Asset Type

Common Stock

What is CIFR's market capitalization and position?
Cipher Mining Inc has a market capitalization of $7.4B, classifying it as a mid-cap stock ($2B-$10B). Mid-caps often represent companies in their growth phase, offering higher growth potential than large-caps but with more stability than small-caps. They can be attractive takeover targets and may become tomorrow's large-caps. With 393.29M shares outstanding, the company's ownership is relatively concentrated. As a participant in the CAPITAL MARKETS industry, it competes with other firms in this sector.
How does CIFR's price compare to its book value?
Cipher Mining Inc's book value per share is $1.94, while the current stock price is $18.70, resulting in a price-to-book (P/B) ratio of 9.66. This high P/B ratio indicates significant intangible assets, strong brand value, or high growth expectations. Technology and consumer brand companies often trade at elevated P/B ratios due to intellectual property and competitive advantages not reflected on the balance sheet. As a common stock, this represents equity ownership with voting rights.

Analyst Ratings

Analyst Target Price

$19.04

1.82% upside potential

Analyst Recommendations

Strong Buy

3

Buy

8

Hold

2

Sell

0

Strong Sell

0

How reliable are analyst predictions for CIFR?
13 analysts cover CIFR with 85% recommending buy/strong buy ratings. Analyst predictions have mixed reliability - studies show consensus rarely beats market returns consistently. The strong bullish consensus may already be priced in. The consensus target of $19.04 implies 1.8% upside, but targets are often adjusted to follow price moves rather than predict them.
What is the Wall Street consensus on CIFR?
Current analyst recommendations:3 Strong Buy, 8 Buy, 2 Hold, 00The bullish tilt suggests optimism about future prospects, though investors should conduct independent research.Remember that analyst opinions often lag price movements and can be influenced by investment banking relationships.

Fundamentals last updated: Oct 19, 2025, 07:20 PM

Technical Indicators

RSI (14-day)

60.11

Neutral

50-Day Moving Average

$11.54

62.05% above MA-50

200-Day Moving Average

$6.07

208.07% above MA-200

MACD Line

2.35

MACD Signal

2.37

MACD Histogram

-0.02

Bearish

What does CIFR's RSI value tell investors?
The RSI (Relative Strength Index) for CIFR is currently 60.11, indicating the stock is showing bullish momentum (60-70 range). The stock has positive momentum without being extremely overbought. This zone often occurs during healthy uptrends where buyers remain in control. Combined with the price being above the 50-day moving average, this confirms bullish conditions.
How should traders interpret CIFR's MACD and moving average crossovers?
MACD analysis shows the MACD line at 2.35 below the signal line at 2.37, with histogram at -0.02. This bearish crossover indicates downward pressure. The narrow histogram suggests a potential trend change ahead. The 50-day MA ($11.54) is above the 200-day MA ($6.07), forming a golden cross pattern that typically signals a long-term uptrend. Price is currently above both MAs, confirming strength.

Indicators last updated: Oct 22, 2025, 12:44 AM

Active Alerts

Alert Condition
Price decreases by
Threshold
3%
Created
Oct 19, 2025, 07:18 PM

Cipher Mining Inc (CIFR) Stock Analysis 2025: Complete Investment Guide

The Bitcoin Miner That Caught the AI Wave

In an industry littered with single-strategy Bitcoin miners struggling through volatility cycles, Cipher Mining has identified a game-changing competitive advantage: optionality. When Bitcoin prices soften or mining difficulty spikes, most miners simply endure margin compression. Under Tyler Page's leadership, Cipher is building infrastructure that can redirect power capacity toward AI workload hosting—capturing whatever revenue stream offers superior economics at any given moment. This flexibility, embodied in facilities like the 300 MW Black Pearl site, transforms traditional mining risk profiles into diversified infrastructure plays.

Business Model & Competitive Moat

Cipher Mining generates revenue through two primary channels: Bitcoin mining operations using its 115,000 deployed rigs, and increasingly, AI/HPC infrastructure hosting. The company's 327 MW of data center capacity across four Texas facilities provides the foundation, but the strategic moat lies in the flexible architecture that Page and his team have engineered. Unlike competitors locked into pure Bitcoin operations, Cipher can pivot capacity allocation based on real-time profitability analysis.

The Black Pearl facility exemplifies this approach—designed from inception to support both Bitcoin mining and AI hosting workloads. With Phase I (150 MW) now operational and contributing 39% of total Bitcoin production, the site demonstrates how dual-use infrastructure can maximize asset utilization. The 10-year Fluidstack/Google agreement at Barber Lake validates the AI hosting strategy, providing revenue visibility that pure miners cannot match.

Financial Performance

Cipher's recent financial trajectory shows the growing pains typical of aggressive expansion plays:

  • •Q2 2025 Revenue: $44 million with $30 million in non-GAAP adjusted earnings
  • •2024 Full Year: $151.27 million revenue (up 19.26% year-over-year)
  • •Bitcoin Production: 251 BTC mined in September 2025, 241 BTC in August, 214 BTC in July
  • •Bitcoin Holdings: 1,500 BTC on balance sheet as of September 2025
  • •Net Loss: $46 million ($0.12 per share) in Q2 2025, reflecting growth investments

The company operates with negative net income as it prioritizes hash rate expansion and AI infrastructure buildout over near-term profitability—a strategy that makes sense given the dual revenue opportunity ahead.

Growth Catalysts

  • •Hash Rate Doubling: Expansion to 23.5 EH/s by Q3 2025 end could more than double Bitcoin production capacity
  • •Black Pearl Phase II: Additional 150 MW capacity at the Odessa site provides future optionality for Bitcoin or AI
  • •AI Hosting Revenue: Fluidstack/Google partnership demonstrates proof-of-concept for infrastructure diversification
  • •Bitcoin Halving Dynamics: Fewer competitors survived 2024 halving, improving economics for efficient operators like Cipher
  • •Texas Energy Advantage: Access to low-cost power and grid participation programs enhance margin resilience

Risks & Challenges

  • •Bitcoin Price Volatility: Core mining economics remain tied to BTC price, which can swing 50%+ annually
  • •Mining Difficulty: Network hash rate growth can compress margins even when Bitcoin prices rise
  • •Execution Risk: Achieving projected 23.5 EH/s requires successful deployment and energization on aggressive timelines
  • •AI Competition: Hyperscalers (AWS, Azure, Google Cloud) dominate AI infrastructure; Cipher competes on cost, not ecosystem
  • •Energy Costs: Texas power markets can spike during extreme weather, compressing mining profitability
  • •Capital Intensity: Maintaining competitive hash rate requires continuous equipment investment and facility expansion

Competitive Landscape

Cipher competes in two distinct arenas. In Bitcoin mining, primary competitors include Marathon Digital (MARA), Riot Platforms (RIOT), and CleanSpark (CLSK)—all scaling hash rate aggressively. Cipher's 23.5 EH/s target positions it as a mid-tier operator by hash rate, though its dual-use infrastructure strategy differentiates it from pure-play miners.

In AI infrastructure hosting, Cipher faces established players like CoreWeave and newer entrants from the crypto mining sector pursuing similar pivots. The competitive advantage lies not in being first to AI, but in execution quality and partnership selection. The Fluidstack/Google deal suggests Tyler Page's team can secure meaningful contracts, but scaling this revenue stream requires proving operational excellence in a domain different from Bitcoin mining.

Who Is This Stock Suitable For?

Perfect For

  • ✓Investors bullish on Bitcoin with 2-3 year horizon through halving cycles
  • ✓Thematic investors seeking dual exposure to crypto and AI infrastructure
  • ✓High-risk tolerance portfolios comfortable with mining sector volatility
  • ✓Those believing AI compute demand will justify premium data center valuations

Less Suitable For

  • ✗Income investors (no dividend, ongoing losses during expansion)
  • ✗Risk-averse investors uncomfortable with 50%+ potential drawdowns
  • ✗Those seeking immediate profitability or positive free cash flow
  • ✗Pure AI plays (crypto mining remains core business)

Investment Thesis

Cipher Mining presents a leveraged bet on Bitcoin price appreciation with an AI infrastructure hedge. The bull case centers on hash rate doubling driving proportional Bitcoin production increases, combined with AI hosting revenue providing downside protection during crypto bear markets. At current levels following the 236% rally, valuation appears stretched relative to near-term profitability, but potentially attractive if Bitcoin sustains elevated prices or AI hosting scales faster than expected.

The bear case questions whether the company can execute its aggressive expansion timeline while transitioning into AI hosting—a business requiring different operational competencies than Bitcoin mining. With forward P/E of 32.47 despite ongoing GAAP losses, the market is pricing in significant growth that may not materialize if Bitcoin enters an extended bear market or AI infrastructure build-out slows. For investors who believe Bitcoin will trend higher through 2025-2026 and that AI compute demand remains insatiable, Cipher offers unique dual exposure. Conservative investors should wait for demonstrated profitability and clearer AI revenue contribution.

Conclusion

Speculative buy for crypto-bullish investors with high risk tolerance and 2+ year horizon. The AI optionality provides a differentiated angle, but this remains fundamentally a Bitcoin mining bet. Position size accordingly given volatility and execution risk.
Bull Case
$22 (31% upside if Bitcoin sustains $100K+ and AI revenue scales)
Base Case
$14 (17% downside if expansion meets targets but macro remains mixed)
Bear Case
$8 (52% downside on Bitcoin correction or execution failures)

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