CIFRCipher Digital

Crypto · Financial Services · Nasdaq

We are dedicated to developing and operating industrial-scale data centers engineered for next-generation computing at the highest standards of innovation, precision, and excellence. 10-K, Item 1

Headquarters: New York, NY
CEO: Tyler Page
Next results: around Feb 23, 2027

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Dilution: new shares, stock pay and buybacks

prospectuses (S-3, 424B) of the last three years and the 10-K cash flow From EDGAR

Shares offered

Since Nov 11, 2023: 2 at-the-market programs, 3 convertible offerings, 1 shelf registration; also 1 resale by holders. Latest at-the-market program for common stock: Sep 3, 2024, up to $250.0M.

May 23, 2025 Convertible notes: $150M 424B5
May 22, 2025 Convertible notes: $150M 424B5
May 22, 2025 Convertible notes: $150M 424B5
Sep 3, 2024 At-the-market program: up to $250M of common stock 424B5
Sep 3, 2024 Shelf registration: shares and other securities, amount not fixed S-3ASR
Mar 6, 2024 At-the-market program: up to $250M of common stock 424B5

“Concurrently with this offering, we are offering Notes in an aggregate principal amount of $150,000,000, plus up to an additional $22,500,000 aggregate principal amount of Notes that the underwriters of the Concurrent Notes Offering have the option to purchase from us.”
424B5, May 23, 2025 ↗

Every offering filing →

Paid in stock

$52.8M

stock-based pay, year to Dec 31, 2025; shares sold for $195.5M in cash

Bought back

$89.6M

cash paid for its own shares, year to Dec 31, 2025: 1.7× the stock pay

Diluted shares: 381.60M in the year to Dec 31, 2025 2025 +18.1%2024 +28.0%2023 +1.7%

Change in the diluted weighted average share count from the fiscal year before, stock splits taken out. Bars use one scale for stock pay and buybacks. Prospectuses are read from their cover page; preliminary ones are left out. Cash & buybacks, year by year → · How

No cash flow chart for banks and insurers: their operating cash flow moves with loans, deposits and trading, so it says little about how cash was spent.

Buybacks, year to Dec 31, 2025

$89.6M

cash paid for its own shares

Paid in stock to employees

$52.8M

buybacks were 1.7× this

Share count, 1 year

+18.1%

more shares: owners are diluted

Share count, 3 years

+53.7%

diluted average shares

Fiscal year to	Buybacks	Dividends	Stock pay	Shares issued for cash	Diluted shares
2025-12-31	$89.6M	-	$52.8M	$195.5M	381.60M
2024-12-31	$27.6M	-	$42.1M	$221.7M	323.10M
2023-12-31	$3.9M	-	$38.5M	$132.4M	252.44M
2022-12-31	$3.1M	-	$41.5M	-	248.23M

From the XBRL of the 10-Ks (cash flow statement and diluted weighted average shares); each year as reported in the latest 10-K that includes it. Concepts: buybacks = PaymentsForRepurchaseOfCommonStock; sbc = ShareBasedCompensation; issuance = ProceedsFromIssuanceOfCommonStock; diluted_shares = WeightedAverageNumberOfDilutedSharesOutstanding.

Work on CIFR in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/CIFR/export.csv") into a cell.