Cipher Digital (CIFR) Cost of Revenue (2023 - 2026)
Cipher Digital (CIFR) posted Cost of Revenue of $15.0 million for Q2 2026, down 15.02% on a QoQ basis from $17.7 million in Q1 2026, and down 1.85% year-over-year from $15.3 million in Q2 2025.
Analysis
Cipher Digital (CIFR) Cost of Revenue (2023 - 2026) Analysis & Trends
Cipher Digital has reported Cost of Revenue for 4 years, with the latest figure at $15.0 million in Q2 2026.
- On a quarterly basis, Cost of Revenue fell 1.85% year-over-year to $15.0 million in Q2 2026; TTM through Jun 2026 was $83.7 million, a 31.91% increase from a year earlier, with the FY2025 full-year figure at $81.2 million, up 30.23% from the prior year.
- Cost of Revenue was $15.0 million for Q2 2026 at Cipher Digital, down from $17.7 million in the prior quarter.
- The five-year high for Cost of Revenue was $26.7 million in Q3 2025, with the low at $8.1 million in Q1 2023.
- Average Cost of Revenue over 4 years is $16.2 million, with a median of $15.1 million recorded in 2024.
- The largest YoY upside for Cost of Revenue was 82.04% in 2024 against a maximum downside of 10.0% in 2024.
- Over 4 years, Cost of Revenue stood at $13.3 million in 2023, then soared by 36.92% to $18.2 million in 2024, then soared by 33.29% to $24.3 million in 2025, then tumbled by 37.98% to $15.0 million in 2026.
- The last three Cost of Revenue figures came in at $15.0 million (Q2 2026), $17.7 million (Q1 2026), and $24.3 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Equinix | 102.22 Bn | 100.02 Bn | 1.40 Bn | 1.23 Bn |
| 2 | Terawulf | 8.24 Bn | 5.48 Bn | 32.37 Mn | 12.40 Mn |
| 3 | Applied Digital | 7.59 Bn | 5.57 Bn | 97.29 Mn | 161.46 Mn |
| 4 | Cipher Digital | 7.35 Bn | 3.35 Bn | 9.79 Mn | 15.05 Mn |
| 5 | GDS Holdings | 6.47 Bn | 4.41 Bn | 97.89 Mn | 357.22 Mn |
| 6 | Core Scientific | 5.72 Bn | 3.78 Bn | 70.04 Mn | 94.16 Mn |
| 7 | Vnet | 1.71 Bn | 828.02 Mn | 74.45 Mn | 335.08 Mn |
| 8 | Sify Technologies | 1.56 Bn | 1.56 Bn | 51.65 Mn | 78.82 Mn |
| 9 | WhiteFiber | 758.96 Mn | 698.59 Mn | 18.88 Mn | 9.96 Mn |
| 10 | Vulcan Infrastructure & Power | 445.09 Mn | 441.89 Mn | -1.25 Mn | 4.63 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 15.05 Mn |
| Mar 31, 2026 | 17.71 Mn |
| Dec 31, 2025 | 24.26 Mn |
| Sep 30, 2025 | 26.73 Mn |
| Jun 30, 2025 | 15.33 Mn |
| Mar 31, 2025 | 14.89 Mn |
| Dec 31, 2024 | 18.20 Mn |
| Sep 30, 2024 | 15.06 Mn |
| Jun 30, 2024 | 14.28 Mn |
| Mar 31, 2024 | 14.82 Mn |
| Dec 31, 2023 | 13.29 Mn |
| Sep 30, 2023 | 13.01 Mn |
| Jun 30, 2023 | 15.87 Mn |
| Mar 31, 2023 | 8.14 Mn |