Bit Digital vs Cipher Digital
Cipher Digital reported revenue of $224 million in fiscal 2025, 2.0 times Bit Digital's $114 million in fiscal 2025. Bit Digital's revenue grew 5.1% in its latest year, and Cipher Digital's grew 48.0%. Bit Digital had an operating margin of -80.9%, against -188.2% at Cipher Digital. Free cash flow was −$575 million at Bit Digital and −$696 million at Cipher Digital.
Side by side
| Bit Digital | Cipher Digital | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $114M | $224M |
| Revenue growth | 5.1% | 48.0% |
| Revenue growth a year, last 5 years | 40.0% | — |
| Gross margin | — | 63.7% |
| Operating margin | −80.9% | −188.2% |
| Net margin | −70.7% | −367.2% |
| Free cash flow | −$575M | −$696M |
| Free cash flow margin | −506.2% | −310.7% |
| Return on capital | — | −18.2% |
| Net debt to EBITDA | — | — |
| Dividends and buybacks | $1M | $90M |
| Change in diluted share count | 82.2% | 18.1% |
| Last close | $0.73 | $6.54 |
| P/E at the last close | — | — |
| Insider trades, last 12 months | sold $3.2 million | sold $93.3 million |
| Piotroski F-score | — | 3 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Bit DigitalCipher Digital
Operating margin
Percent of revenue
Bit DigitalCipher Digital
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Bit DigitalCipher Digital
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Bit Digital and Cipher Digital pages.