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WhiteFiber vs Cipher Digital: WYFI and CIFR compared
WhiteFiber is the larger company: $28.8M of revenue in its latest quarter (Q2 2026) against $26.7M for Cipher Digital (Q3 2026). WhiteFiber is growing faster (+54% against -63% a year earlier). WhiteFiber is more profitable, with an operating margin of -32.1% against -269.3%.
Where the money goes: WYFI and CIFR
WhiteFiber (WYFI) · Q2 2026
WhiteFiber, Q2 2026: revenue $28.8M (+54% year over year), operating margin -32.1%, net loss $15.0M, operating cash flow $85.9M. 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.
| WhiteFiber (WYFI) | Cipher Digital (CIFR) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q3 2026 |
| Revenue | $28.8M | $26.7M |
| Revenue growth, Y/Y | +54% | -63% |
| Operating margin | -32.1% | -269.3% |
| Net earnings | −$15.0M | $31.6M |
| Net margin | -51.9% | 118.3% |
| Operating cash flow | $85.9M | −$131M |
Where the revenue comes from
WhiteFiber
- Cloud services: $23.8M (83%)
- Colocation services: $4.7M (16%)
- Other: $307K (1%)
Cipher Digital
- Bitcoin Mining: $20.8M (78%)
- HPC Leasing: $5.9M (22%)
Questions
Which is bigger, WhiteFiber or Cipher Digital?
WhiteFiber is the larger company: $28.8M of revenue in its latest quarter (Q2 2026) against $26.7M for Cipher Digital (Q3 2026).
Is WhiteFiber or Cipher Digital growing faster?
WhiteFiber is growing faster (+54% against -63% a year earlier).
Which is more profitable, WhiteFiber or Cipher Digital?
WhiteFiber is more profitable, with an operating margin of -32.1% against -269.3%.
More: WhiteFiber earnings · how WhiteFiber 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 12, 2026; 10-Q filed Nov 2, 2026). Fiscal quarters can end on different dates. Not investment advice.