Cipher Digital CIFR
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
CIFR among Crypto peers
Six ratios from the latest 10-K. Each corner is the share of 25 peers the company is above, not a score.
What changed
102 new risk paragraphs and 1 accounting fact worth reading about. 10-K filed Feb 24, 2026 against Feb 25, 2025.
Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.
Accounting checks
8 checks on the latest 10-K. Checks, not verdicts.
1fact worth reading about the other 7 checks found nothing to note
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Auditor change8-K item 4.01 (change in certifying accountant) filed Apr 18, 2025
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No statement of substantial doubt about going concern
6 more checks with nothing to note
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No 8-K item 4.02 in the last 2 years
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No NT 10-K or NT 10-Q in the last 2 years
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No longer listed: F-2; Derivative Asset Valuation. Same as last year: Revenue Recognition
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No sentence in the 10-K concludes that controls were not effective because of a material weakness
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No 8-K item 2.06 in the last 2 years
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No 8-K item 1.03 in the last 2 years
In their words
102 paragraphs in Risk Factors that were not in the 10-K filed Feb 25, 2025. Quoted as filed.
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Item 1A · new paragraph · not in the 10-K filed Feb 25, 2025 10-K, ITEM 1A
If we are unable to complete the construction of our HPC data centers in a timely manner or within our anticipated cost estimates, it could have a material adverse effect on our business, results of operations, liquidity and our ability to make payments on our outstanding indebtedness. Our business depends upon the construction of data…
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Item 1A · new paragraph · not in the 10-K filed Feb 25, 2025 10-K, ITEM 1A
Construction of our HPC data centers exposes us to significant construction risks, including risks related to: construction delays; lack of availability of parts and/or labor, increased prices as a result, in part, of inflation, and delays for data center equipment; labor disputes and work stoppages, including interruptions in work due…
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Item 1A · new paragraph · not in the 10-K filed Feb 25, 2025 10-K, ITEM 1A
Enhanced tariff, import/export restrictions, or other trade barriers may have an adverse impact on global economic conditions. There have been, and continue to be, uncertainties with respect to the global economy and trade relations between the U.S. and other countries globally, including trade policies, treaties, tariffs, and customs…
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Item 1A · new paragraph · not in the 10-K filed Feb 25, 2025 10-K, ITEM 1A
From time to time, we may modify aspects of our business model or engage in various strategic initiatives, which may be complementary to our existing operations. For further information on our strategy, see “Business—Our Strategy.” Our growth strategy includes expanding and diversifying our revenue sources into new markets. We are…
New risk paragraphs, against peers
Latest 10-K of each, Crypto companies closest in revenue
Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.
Financial performance
Last 4 fiscal years · 10-K XBRL
| Metric | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Revenue | $3.0M | $126.8M | $151.3M | $223.9M |
| Net income | −$39.1M | −$25.8M | −$44.6M | −$822.2M |
| Operating cash flow | −$20.9M | −$94.2M | −$87.5M | −$207.9M |
| Free cash flow | −$60.1M | −$114.7M | −$227.0M | −$695.9M |
Revenue, FY2022 to FY2025
Ten fiscal years, each from its own 10-K · XBRL · USD
$223.9M ▲ 48.0% in FY2025−$822.2M in FY2025−$695.9M in FY2025
Recent filings
3 filings in the last 30 days · SEC EDGAR
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8-KNov 2, 2026Quarterly results, Regulation FD disclosure 8-K items 2.02, 7.01
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10-QNov 2, 2026Quarterly report (10-Q) period ended Sep 30, 2026
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8-KOct 16, 2026Material agreement signed, New debt or obligation, Unregistered share sale, Regulation FD disclosure 8-K items 1.01, 2.03, 3.02, 7.01
About the company
Cipher Digital, New York, NY · from the 10-K filed Feb 24, 2026
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. Over the past several years, we have intentionally evolved from a pure-play bitcoin miner into a vertically integrated data center development and operations platform focused on energy-intensive compute infrastructure. Our vertical integration spans critical stages of the data center value chain, including land and power origination and interconnection, site development, data center design and construction, oversight and ongoing facility operations.
- Headquarters
- New York, NY
- Country
- United States
- Reports in
- USD
- Listed on
- Nasdaq
- Fiscal year ends
- December 31
- Last results
- Nov 2, 2026
Email alerts
Sources
The 10-K filed Feb 24, 2026 (open at SEC), compared with the 10-K filed Feb 25, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.
Work with it: Excel workbook · CSV. Google Sheet that stays up to date: paste =IMPORTDATA("https://tickdelta.com/company/CIFR/export.csv") into a cell.