Cipher Digital Inc.
At today's price, Cipher Digital Inc. (CIFR) is priced for today's economics sustained for ~23.4 years. boothcheck doesn't publish a fair value or a price target; it shows what the price assumes, so you can judge whether that bar is too high. Built from SEC EDGAR filings.
- The decisive number is the contracted backlog, not the income statement. The company cites roughly $11.4 billion of contracted HPC revenue and about $787 million of average annualized contracted net operating income from long-term hyperscaler leases, against a business that today still loses money on bitcoin mining. - The standard valuation models are mostly unavailable: four distress signals shut down the projection methods, the operating margin is deeply negative, and what survives is a book
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355 institutional managers reported holding CIFR in 13F filings for the quarter ended 2026-03-31. Together they hold about 76% of the company; the top 10 hold 49%. 84 opened new positions that quarter. Held by Vanguard Group, BlackRock, D. E. Shaw, among others. On the short side, 54.5M shares were sold short as of the 2026-06-15 count, about 13% of shares outstanding (2.2 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
CIFR's share count grew 102.6% over the past five years even with $128.00M spent on repurchases. It pays no dividend. Cash returned over the past three years: $123.80M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
No open-market insider buys on file at CIFR over the trailing three years. Absence is a fact about the company, not a signal. 12 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
CIFR's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-09 | +10.2% | -32.9% |
| 2023-11-09 | -19.0% | +12.5% |
| 2024-03-06 | +26.5% | +3.9% |
| 2024-05-08 | -15.7% | +17.5% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
CIFR's latest 8-K filings: 2026-06-15 (items 1.01, 2.03, 9.01); 2026-06-09 (items 8.01, 9.01); 2026-06-08 (items 5.07); 2026-06-08 (items 7.01, 8.01, 9.01); 2026-05-05 (items 2.02, 7.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Nothing here is investment advice.
Last analyzed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.