Cipher Digital Valuation Multiples

Cipher Digital Overview

About Cipher Digital

Cipher Digital Inc is focused on high-performance computing (HPC) data center development and operations. It is engaged in developing and operating data centers designed for HPC workloads. Its operations include managing power assets and capital allocation in response to market conditions and demand for AI-related computing capacity.

Founded

2021

HQ

Employees

66

Website

cipherdigital.com

Sectors

Crypto MiningFinTech

Financials (LTM)

Revenue: $232M

EBITDA: $79M

EV

$9B

Valuation Multiples

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Cipher Digital Financials

Cipher Digital reported last 12-month revenue of $232M and EBITDA of $79M.

In the same LTM period, Cipher Digital generated $151M in gross profit, $79M in EBITDA, and had net loss of ($728M).

Cipher Digital P&L

In the most recent fiscal year, Cipher Digital reported revenue of $224M and EBITDA of $62M.

Cipher Digital expects next 12-month revenue of XXX and NTM EBITDA of XXX

Cipher Digital Stock Performance

Cipher Digital has current market cap of $6B, and enterprise value of $9B.

Cipher Digital's stock price is $16.03.

Cipher Digital Valuation Multiples

Cipher Digital trades at 37.3x EV/Revenue multiple, and 109.1x EV/EBITDA.

Cipher Digital Financial Valuation Multiples

As of March 8, 2026, Cipher Digital has market cap of $6B and EV of $9B.

Equity research analysts estimate Cipher Digital's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Cipher Digital has a P/E ratio of (8.9x).

Cipher Digital Margins & Growth Rates

Cipher Digital's revenue in the last 12 month grew by 56%.

Cipher Digital's revenue per employee in the last FY averaged $3.5M.

Cipher Digital's rule of 40 is 90% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Cipher Digital's rule of X is 174% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Cipher Digital Public Comps

See public comps and valuation multiples for other Crypto Mining comps.

Cipher Digital M&A Activity

Cipher Digital acquired XXX companies to date.

Last acquisition by Cipher Digital was on XXXXXXXX, XXXXX. Cipher Digital acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

Cipher Digital Investment Activity

Cipher Digital invested in XXX companies to date.

Cipher Digital made its latest investment on XXXXXXXX, XXXXX. Cipher Digital invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).