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Bit Digital vs Cipher Digital: BTBT and CIFR compared
Bit Digital is the larger company: $32.1M of revenue in its latest quarter (Q2 2026) against $26.7M for Cipher Digital (Q3 2026). Bit Digital is growing faster (+25% against -63% a year earlier). Bit Digital is more profitable, with an operating margin of -257.3% against -269.3%.
Where the money goes: BTBT and CIFR
Bit Digital (BTBT) · Q2 2026
Bit Digital, Q2 2026: revenue $32.1M (+25% year over year), operating margin -257.3%, net loss $112M, operating cash flow $47.9M. The chart follows the revenue to costs, profit and cash.
Cipher Digital (CIFR) · Q3 2026
Cipher Digital, Q3 2026: revenue $26.7M (-63% year over year), operating margin -269.3%, net earnings $31.6M, operating cash flow −$131M. The chart follows the revenue to costs, profit and cash.
| Bit Digital (BTBT) | Cipher Digital (CIFR) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q3 2026 |
| Revenue | $32.1M | $26.7M |
| Revenue growth, Y/Y | +25% | -63% |
| Operating margin | -257.3% | -269.3% |
| Net earnings | −$112M | $31.6M |
| Net margin | -347.7% | 118.3% |
| Operating cash flow | $47.9M | −$131M |
Where the revenue comes from
Bit Digital
- Cloud services: $23.8M (74%)
- Colocation services: $4.7M (15%)
- Digital asset mining: $2.4M (7%)
- ETH staking: $903K (3%)
Cipher Digital
- Bitcoin Mining: $20.8M (78%)
- HPC Leasing: $5.9M (22%)
Questions
Which is bigger, Bit Digital or Cipher Digital?
Bit Digital is the larger company: $32.1M of revenue in its latest quarter (Q2 2026) against $26.7M for Cipher Digital (Q3 2026).
Is Bit Digital or Cipher Digital growing faster?
Bit Digital is growing faster (+25% against -63% a year earlier).
Which is more profitable, Bit Digital or Cipher Digital?
Bit Digital is more profitable, with an operating margin of -257.3% against -269.3%.
More: Bit Digital earnings · how Bit Digital makes money · Cipher Digital earnings · how Cipher Digital makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 13, 2026; 10-Q filed Nov 2, 2026). Fiscal quarters can end on different dates. Not investment advice.