Cipher Digital (CIFR) Construction in Progress (2024 - 2026)
Cipher Digital (CIFR) reported Construction in Progress of $1.68 billion for Q2 2026, compared with $11.9 million a year earlier and up 100.9% from the prior quarter.
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Analysis
Cipher Digital (CIFR) Construction in Progress (2024 - 2026) Analysis & Trends
At the end of FY2025, Cipher Digital posted Construction in Progress of $276.5 million, up 237.2% from FY2024.
- By year, Construction in Progress came in at $82 million in FY2024.
- The Q2 2026 figure ranks as the highest quarterly Construction in Progress in data going back to Q2 2024.
- Year over year, Construction in Progress gained in two of the last four quarters, with growth averaging 178.5%.
- Per Business Quant data, the three quarters before Q2 2026 came in at $834.4 million (Q1 2026), $276.5 million (Q4 2025) and $12.1 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Construction in Progress (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,958.25 Bn | 3,881.40 Bn | 60.48 Bn | - |
| 2 | International Business Machines | 238.12 Bn | 188.94 Bn | 9.91 Bn | - |
| 3 | Cloudflare | 117.97 Bn | 101.50 Bn | 499.52 Mn | - |
| 4 | Equinix | 95.45 Bn | 84.02 Bn | 1.40 Bn | - |
| 5 | Nebius | 37.16 Bn | 10.59 Bn | 448.70 Mn | - |
| 6 | CoreWeave | 30.42 Bn | 17.51 Bn | 1.70 Bn | - |
| 7 | Verisign | 27.81 Bn | 25.16 Bn | 393.20 Mn | - |
| 8 | Nutanix | 19.56 Bn | 11.25 Bn | 651.35 Mn | - |
| 9 | GoDaddy | 14.36 Bn | 9.94 Bn | 828.20 Mn | - |
| 10 | Cipher Digital | 3.15 Bn | -236.63 Mn | 9.79 Mn | 1.68 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.68 Bn |
| Mar 31, 2026 | 834.40 Mn |
| Dec 31, 2025 | 276.50 Mn |
| Sep 30, 2025 | 12.10 Mn |
| Jun 30, 2025 | 11.90 Mn |
| Mar 31, 2025 | 120.20 Mn |
| Dec 31, 2024 | 82.00 Mn |
| Sep 30, 2024 | 55.60 Mn |
| Jun 30, 2024 | 19.50 Mn |
API Access
Cipher Digital Construction in Progress API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=construction-in-progress&ticker=CIFR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "construction-in-progress", "ticker": "CIFR", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=construction-in-progress&ticker=CIFR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();