Cipher Digital Inc.
Cipher Digital Inc. (Nasdaq: CIFR) operates as a vertically integrated data center development and operations platform focused on energy-intensive compute infrastructure. The company's website is https://www.cipherdigital.com. From the company’s description.
Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.
What Cipher Digital Inc. does
In the company’s own words
Cipher Digital Inc. (Nasdaq: CIFR) operates as a vertically integrated data center development and operations platform focused on energy-intensive compute infrastructure. The company's website is https://www.cipherdigital.com.
The company has evolved from a pure-play bitcoin miner into a comprehensive data center platform that spans critical stages of the value chain, including land and power origination, grid interconnection, site development, data center design and construction, and facility operations. Cipher brings together construction, engineering, operations, power, real estate, and technology expertise to deliver purpose-built data centers meeting tenant requirements.
Cipher's data center portfolio consists of 4.2 gigawatts of capacity across ten sites at various stages of interconnection. The company is currently developing 600 megawatts of high-performance computing data center facilities across two sites for hyperscaler tenants and operates approximately 207 megawatts of power at one bitcoin mining data center in Texas. The company maintains a pipeline of approximately 3.4 gigawatts across eight additional sites, with locations primarily in Texas and one site in Ohio.
In 2025, Cipher entered into significant long-term HPC leases with major tenants. Through its subsidiary Cipher Barber Lake, the company leased capacity to Fluidstack with Google providing backstop support for a 300-megawatt facility near Colorado City, Texas, targeting delivery by early 2027. Through Cipher Black Pearl, the company entered into a 15-year lease with Amazon Web Services for approximately 300 megawatts near Wink, Texas, with phased delivery commencing in 2026.
The company's core business model centers on sourcing, designing, constructing, and operating data centers in power-advantaged locations. Cipher employs a power-first approach to site sourcing, identifying locations with viable grid interconnection potential, access to fiber connectivity, and water resources. The company has demonstrated expertise in hyperscale-ready design and engineering, operational excellence, and disciplined capital allocation. Cipher's operational model emphasizes project-level financing structures, non-recourse debt where possible, and long-term lease arrangements to align capital investment with asset-level cash flows while reducing reliance on corporate leverage.
Company details
- Sector
- Financials
- Industry
- Finance Services
- Headquarters
- NEW YORK, NY
- Fiscal year end
- December
- CIK
- 1819989
- SIC
- 6199
Financial performance, year by year
Fiscal 2022–2025 · USDThe full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.
Who owns Cipher Digital Inc. — and what changed
Funds as of 2026Q2 · superinvestors as of 2026-06-30
Superinvestors in Cipher Digital Inc. · what they did last quarter
Share of each manager’s reported 13F portfolio. Change is in shares held, since the previous quarter.
Largest fund holders · Cipher Digital Inc.’s weight in each
Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.
Cipher Digital Inc.’s bonds, as funds hold them
Funds report holding 3 issues of Cipher Digital Inc.’s debt, $301.34M at market value — what funds hold, not the company’s total debt. Weighted-average coupon 3.01%, maturing 2030 to 2031.
Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.
Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.
Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.
Recent filings
All filings →Each filing opens into its own statements and disclosures here.
Put this business in context.
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