The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 5 | — | 20.8x | Bottom tier | |
Growth | 48 | 38.0% | 6.1% | Around median | |
Quality | 3 | — | — | Bottom tier | |
Safety | 22 | — | — | Bottom tier | |
Capital Return | 16 | — | 2.02% | Bottom tier | |
Momentum | 69 | 236.9% | 4.1% | Top tier | |
Sentiment | 39 | 7 | 3 | Bottom tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Cipher Mining Inc. (commercially known as Cipher Digital, Ticker: CIFR) operates as a vertically integrated developer and operator of large-scale industrial data centers dedicated to serving major technology companies and hyperscalers. The company generates revenue primarily by leasing high-performance computing (HPC) data center capacity under long-term contracts spanning 10 to 15 years, in addition to its self-funded Bitcoin mining operations at its Odessa site in Texas. The company is undergoing a pivotal strategic transition from being an emerging Bitcoin mining firm to an institutionally backed digital infrastructure platform.
In the first quarter of 2026, the company achieved revenue of $34.8 million, marking a decline compared to the previous quarter's $60 million due to the planned shutdown of mining operations at the Black Pearl site to begin data center preparation works. Gross profit for the quarter was $17.1 million, while the company recorded a net loss of $114.3 million (or a loss of $0.28 per share), compared to a net loss of $734 million in the previous quarter. The current losses are mainly attributed to lower mining revenues, a $28 million decrease in the fair value of the power purchase agreement, and interest expenses rising to $59 million as a result of new project financing.
Cipher Mining Inc. (CIFR) stock currently trades below the analysts' average target price of $31.9, with their forecast range spanning a low of $22 and a high of $48.5. The current analyst consensus indicates a 'Buy' recommendation, reflecting optimism in the success of the company's business model and its transition to the AI hyperscale data center sector, despite the stock's historical price volatility within its 52-week range of $3.29 to $28.62.
Figures in the text are as of 2026-06-15; the live price is shown at the top of the page.
The company currently holds three long-term data center campus lease agreements with investment-grade tenants, guaranteeing contracted revenues of approximately $11.4 billion over 10 to 15 years. These agreements include 300 MW of capacity at the Barber Lake site contracted with FluidStack and Google, 300 MW of capacity at the Black Pearl site contracted with Amazon Web Services, in addition to a new third contract for 100 MW. These contracts are expected to generate an average annual net operating income estimated at $787 million for the period from October 2026 to September 2036. Signed with highly creditworthy counterparties, these agreements provide stability and clarity to the company's future cash flows over the next decade.
The company relies on an innovative financing structure that isolates construction risks through non-recourse debt at the project level, having issued $1.7 billion in secured bonds for the Barber Lake project at a 7.125% interest rate maturing in November 2030, and $2 billion in bonds for the Black Pearl project at a 6.125% interest rate maturing in February 2031. Additionally, the company secured a $200 million committed revolving credit facility from a syndicate of leading global banks, such as Morgan Stanley and Goldman Sachs, to support working capital. The company holds $715 million in unrestricted cash and approximately $3.5 billion in restricted cash balances fully dedicated to construction works, eliminating the need to issue new shares to fund its current plans.
Automated analysis for informational purposes only — not investment advice.
The Odessa site continues to operate with high efficiency, benefiting from a fixed-price power purchase agreement of approximately $0.028 per kWh, making it one of the lowest-cost Bitcoin producers in the industry. The site currently operates at a 207 MW capacity with a total hash rate of 11.6 EH/s and a fleet efficiency of 17.2 J/TH. The company successfully mined 346 Bitcoins during the first quarter of 2026 to support ongoing revenues. Management emphasizes that the self-mining operations are fully self-funded and no additional capital expenditures will be allocated to them, allowing the company to focus its efforts on high-performance computing infrastructure.
The company possesses a massive project pipeline with a total grid capacity of 3.3 GW, bringing its total operational and future portfolio to 4.2 GW. The 70 MW Reveille site in Texas and the 200 MW Ulysses site in Ohio are the most advanced projects, having obtained interconnection approvals and targeting operations in the second half of 2027. The company is also actively pursuing the development of the McLennan, Mikeska, and Colchis projects in Texas to secure interconnection approvals for 2028 through the new ERCOT grid batch process.
First-quarter 2026 revenues declined to $34.8 million compared to $60 million in the previous quarter due to the gradual, planned shutdown of Bitcoin mining operations at the Black Pearl site in preparation for its conversion into a hyperscale data center. Net income was negatively impacted, recording a loss of $114.3 million due to a $28 million non-cash fair value decrease in the power purchase agreement, and interest costs rising to $59 million as a result of the new bond issuances. However, the company asserts that this transitional phase is necessary to begin the flow of more stable and profitable contracted revenues starting in late 2026 when the new sites become operational.