Cipher Digital Inc. income statement

In fiscal 2025, Cipher Digital Inc. reported revenue of $224m, up 48.0% on the year before, operating income of −$422m (a -188.2% margin) and net income of −$822m, or −$2.15 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Cipher Digital Inc.: income statement, annual
Fiscal year	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Revenue	3	127	151	224	146
Cost of revenue	1	50	62	81	72
Gross profit	2	77	89	143	74
General and administrative	71	28	33	36	65
Operating income	−37	−20	−44	−422	−566
Interest expense	0	2	2	37	218
Income before tax	−37	−22	−44	−826	−1,088
Income tax	2	4	0	−3	−3
Net income	−39	−26	−45	−822	−1,084
Diluted EPS	−$0.16	−$0.10	−$0.14	−$2.15	−$2.63
Diluted shares (average)	248m	252m	323m	382m	413m
EBITDA	−33	39	59	−223	−457

US$ millions unless shown otherwise. Fiscal quarters.

Cipher Digital Inc.: income statement, quarterly
Quarter	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026	2026 Q3Sept 2026
Revenue	42	49	44	72	60	35	25	27
Cost of revenue	18	15	15	27	24	18	15	15
Gross profit	24	34	28	45	35	17	10	11
General and administrative	9	9	9	8	10	12	16	26
Operating income	17	−38	−45	−38	−301	−115	−79	−72
Interest expense	1	1	1	1	33	59	67	59
Income before tax	16	−39	−45	−4	−738	−114	−267	32
Income tax	−2	0	1	−0	−4	0	0	−0
Net income	18	−39	−46	−3	−734	−114	−268	32
Diluted EPS	$0.06	−$0.11	−$0.12	−$0.01	−$1.92	−$0.28	−$0.65	−$0.22
EBITDA	53	5	−1	22	−249	−96	−59	−53

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from Cipher Digital Inc.'s SEC filings (10-K and 10-Q), retrieved November 3, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Cipher Digital Inc.