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Cipher Digital vs Exodus Movement: CIFR and EXOD compared
Cipher Digital is the larger company: $26.7M of revenue in its latest quarter (Q3 2026) against $26.2M for Exodus Movement (Q2 2026). Exodus Movement is growing faster (+2% against -63% a year earlier). Exodus Movement is more profitable, with an operating margin of -82.9% against -269.3%.
Where the money goes: CIFR and EXOD
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.
Exodus Movement (EXOD) · Q2 2026
Exodus Movement, Q2 2026: revenue $26.2M (+2% year over year), operating margin -82.9%, net loss $18.6M, operating cash flow −$49.5M. The chart follows the revenue to costs, profit and cash.
| Cipher Digital (CIFR) | Exodus Movement (EXOD) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2026 |
| Revenue | $26.7M | $26.2M |
| Revenue growth, Y/Y | -63% | +2% |
| Operating margin | -269.3% | -82.9% |
| Net earnings | $31.6M | −$18.6M |
| Net margin | 118.3% | -71.0% |
| Operating cash flow | −$131M | −$49.5M |
Where the revenue comes from
Cipher Digital
- Bitcoin Mining: $20.8M (78%)
- HPC Leasing: $5.9M (22%)
Exodus Movement
- Web3 services: $21.2M (81%)
- Payment processing services: $5.0M (19%)
Questions
Which is bigger, Cipher Digital or Exodus Movement?
Cipher Digital is the larger company: $26.7M of revenue in its latest quarter (Q3 2026) against $26.2M for Exodus Movement (Q2 2026).
Is Cipher Digital or Exodus Movement growing faster?
Exodus Movement is growing faster (+2% against -63% a year earlier).
Which is more profitable, Cipher Digital or Exodus Movement?
Exodus Movement is more profitable, with an operating margin of -82.9% against -269.3%.
More: Cipher Digital earnings · how Cipher Digital makes money · Exodus Movement earnings · how Exodus Movement makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 2, 2026; 10-Q filed Aug 11, 2026). Fiscal quarters can end on different dates. Not investment advice.