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Where the tokens are
Trade CIFR perpsStandardised from the company’s filings, newest period first, labelled with the company’s own fiscal calendar. A line the company does not report is left off rather than shown as zero; margins and free cash flow are worked out here, and only where every input is present.
| Line item | Q2 FY262026-06-30 | Q1 FY262026-03-31 | Q4 FY252025-12-31 | Q3 FY252025-09-30 | Q2 FY252025-06-30 | Q1 FY252025-03-31 | Q4 FY242024-12-31 | Q3 FY242024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $24.84M | $34.84M | $59.71M | $71.71M | $43.57M | $48.96M | $42.22M | $24.10M |
| Cost of revenue | $15.05M | $17.71M | $24.26M | $26.73M | $15.33M | $14.89M | $18.20M | $15.06M |
| Gross profit | $9.79M | $17.13M | $35.45M | $44.97M | $28.24M | $34.07M | $24.02M | $9.04M |
| Gross margin | 39.4% | 49.2% | 59.4% | 62.7% | 64.8% | 69.6% | 56.9% | 37.5% |
| Selling, general and administrative | $58.84M | $46.74M | $44.91M | $22.61M | $24.74M | $23.25M | $26.03M | $23.66M |
| Operating expenses | $78.20M | $111.78M | $296.42M | $82.06M | $68.82M | $59.87M | $66.94M | $52.29M |
| Operating income | −$68.41M | −$94.64M | −$260.97M | −$37.09M | −$40.59M | −$25.81M | −$42.91M | −$43.25M |
| Operating margin | -275.4% | -271.7% | -437.1% | -51.7% | -93.2% | -52.7% | -101.6% | -179.5% |
| EBITDA | −$49.05M | −$75.63M | −$209.10M | $22.46M | $3.50M | $17.66M | −$6.60M | −$14.62M |
| Interest income | $35.86M | $31.59M | $18.54M | $457.00K | $296.00K | $190.00K | $357.00K | $1.19M |
| Interest expense | −$66.74M | −$59.16M | −$33.36M | −$1.29M | −$1.14M | −$777.00K | −$590.00K | −$346.00K |
| Income before taxes | −$267.16M | −$113.91M | −$738.28M | −$3.59M | −$44.86M | −$38.83M | $15.54M | −$90.56M |
| Income taxes | $367.00K | $407.00K | −$4.07M | −$303.00K | $917.00K | $144.00K | −$1.97M | −$3.80M |
| Net income | −$267.53M | −$114.32M | −$734.21M | −$3.28M | −$45.78M | −$38.98M | $17.51M | −$86.75M |
| Net margin | -1077.1% | -328.1% | -1229.6% | -4.6% | -105.1% | -79.6% | 41.5% | -359.9% |
| EPS, basic | −$0.65 | −$0.28 | −$1.85 | −$0.01 | −$0.12 | −$0.11 | $0.05 | −$0.26 |
| EPS, diluted | −$0.65 | −$0.28 | −$1.85 | −$0.01 | −$0.12 | −$0.11 | $0.05 | −$0.26 |
| Diluted shares | 409.38M | 405.11M | 397.65M | 393.19M | 375.05M | 360.51M | 340.98M | 332.68M |
Figures describe Cipher Mining shares, not any token. As of Aug 4, 2026, from Massive's standardised financials. The company reports these figures; a token's issuer holds the shares and reports nothing of its own here.