Cipher Digital Inc. (NASDAQ: CIFR, formerly Cipher Mining) is a U.S.-listed digital infrastructure company spanning Bitcoin mining and high-performance computing data centers. It develops and operates industrial-grade data center infrastructure; originally centered on Bitcoin mining, it has in recent years been expanding infrastructure capabilities for HPC- and AI-related customers. Its focus includes Bitcoin mining, large-scale power procurement, data center development and high-density compute capacity. Per its website and investor materials, it is building relationships with hyperscaler and AI-related customers to provide high-performance digital infrastructure.
| Quarter | BTC Production | Treasury | Hashrate | Cash Cost / BTC | Power | Efficiency | Source |
|---|---|---|---|---|---|---|---|
| 2026Q1 | 451 | 1,116 | 11.6 EH/s | $39,257 | 207 MW | 17.2 | 2026Q12 |
| 2025Q4 | 641 | 1,433 | 23.6 EH/s | $41,047 | 477 MW | — | 2025Q43 |
| 2025Q3 | 689 | 1,500 | 23.6 EH/s | $38,800 | 477 MW | 16.8 | 2025Q32 |
| 2025Q2 | 509 | 1,063 | 16.8 EH/s | $30,118 | 423 MW | 20.8 | 2025Q22 |
| 2025Q1 | 602 | 1,034 | 13.5 EH/s | $24,741 | 327 MW | 18.9 | 2025Q12 |
| 2024Q4 | 585 | 1,344 | 12.1 EH/s | — | 327 MW | 18.9 | 2024Q4 ↗ |
| 2024Q3 | 493 | 1,512 | 9 EH/s | $38,038 | 327 MW | 27 | 2024Q32 |
| 2024Q2 | 621 | 2,209 | 8.1 EH/s | $25,366 | 327 MW | 27.8 | 2024Q23 |
| 2024Q1 | 1,021 | 1,741 | 7.4 EH/s | $16,039 | 267 MW | — | 2024Q12 |
| 2023Q4 | 1,326 | 796 | 7.2 EH/s | $11,142 | 267 MW | — | 2023Q42 |
| 2023Q3 | 1,191 | 553 | 6.9 EH/s | $12,067 | 267 MW | — | 2023Q3 ↗ |
| 2023Q2 | 1,259 | 417 | 6.2 EH/s | $14,270 | 253 MW | — | 2023Q22 |
| 2023Q1 | 1,154 | 427 | 5.1 EH/s | $8,633 | 203 MW | — | 2023Q1 ↗ |
Data sources: SEC filings, company announcements and investor materials. Snapshot built 2026-08-13.