Filing Flows › Cipher Digital (CIFR) › How it makes money
How Cipher Digital (CIFR) makes money
Cipher Digital (CIFR) made $26.7M of revenue in the third quarter 2026 (Q3 2026), -63% from a year earlier. Bitcoin Mining brought in $20.8M (78%); HPC Leasing brought in $5.9M (22%).
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Bitcoin Mining | $20.8M | 78.1% | — | -71% |
| HPC Leasing | $5.9M | 21.9% | — | — |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $26.7M | 100.0% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $26.7M | -63% |
| Q2 2026 | $24.8M | -43% |
| Q1 2026 | $34.8M | -29% |
| Q4 2025 | $59.7M | +41% |
| Q3 2025 | $71.7M | +198% |
| Q2 2025 | $43.6M | +18% |
| Q1 2025 | $49.0M | +2% |
From Cipher Digital's 10-Q filed Nov 2, 2026 (on EDGAR).
Questions
How does Cipher Digital make money?
Cipher Digital (CIFR) made $26.7M of revenue in the third quarter 2026 (Q3 2026), -63% from a year earlier. Bitcoin Mining brought in $20.8M (78%); HPC Leasing brought in $5.9M (22%).
What is Cipher Digital's biggest business?
Bitcoin Mining: $20.8M in the third quarter 2026, 78% of revenue, -71% from a year earlier.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.