Cipher Digital (3A9) Stock Overview

Develops and operates industrial-scale data centers for bitcoin mining and high-performance compute (HPC) hosting in the United States. More details

3A9 fundamental analysis
Snowflake Score
Valuation	0/6
Future Growth	6/6
Past Performance	0/6
Financial Health	1/6
Dividends	0/6

Rewards

Earnings are forecast to grow 86.81% per year

Risk Analysis

Has less than 1 year of cash runway

Shares are highly illiquid

Significant insider selling over the past 3 months

3A9 Community Fair Values

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Cipher Digital Inc. Competitors

Price History & Performance

Summary of share price highs, lows and changes for Cipher Digital
Historical stock prices
Current Share Price	US$20.03
52 Week High	US$21.77
52 Week Low	US$19.73
Beta	3.2
1 Month Change	n/a
3 Month Change	n/a
1 Year Change	n/a
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	-4.91%

Recent News & Updates

No updates

Recent updates

No updates

Shareholder Returns

	3A9	DE Software	DE Market
7D	n/a	-5.9%	-1.8%
1Y	n/a	-40.9%	-0.5%

Return vs Industry: Insufficient data to determine how 3A9 performed against the German Software industry.

Return vs Market: Insufficient data to determine how 3A9 performed against the German Market.

Price Volatility

Is 3A9's price volatile compared to industry and market?
3A9 volatility
3A9 Average Weekly Movement	n/a
Software Industry Average Movement	7.0%
Market Average Movement	6.0%
10% most volatile stocks in DE Market	13.2%
10% least volatile stocks in DE Market	2.7%

Stable Share Price: 3A9's share price has been volatile over the past 3 months compared to the German market.

Volatility Over Time: Insufficient data to determine 3A9's volatility change over the past year.

About the Company

Founded	Employees	CEO	Website
2021	66	Rodney Page	www.cipherdigital.com

Cipher Digital Inc., together with its subsidiaries, develops and operates industrial-scale data centers for bitcoin mining and high-performance compute (HPC) hosting in the United States. It develops HPC data center facilities across various sites for hyperscaler tenants; operates power at one bitcoin mining data center; and maintains a pipeline across various sites. The company was formerly known as Cipher Mining Inc. and change its name to Cipher Digital Inc. in February 2026.

Cipher Digital Inc. Fundamentals Summary

How do Cipher Digital's earnings and revenue compare to its market cap?
3A9 fundamental statistics
Market cap	€7.96b
Earnings (TTM)	-€778.39m
Revenue (TTM)	€181.96m

47.4x

P/S Ratio

-11.1x

P/E Ratio

Is 3A9 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
3A9 income statement (TTM)
Revenue	US$209.82m
Cost of Revenue	US$183.86m
Gross Profit	US$25.97m
Other Expenses	US$923.55m
Earnings	-US$897.58m

Last Reported Earnings

Mar 31, 2026

Next Earnings Date

n/a

Earnings per share (EPS)	-2.19
Gross Margin	12.37%
Net Profit Margin	-427.79%
Debt/Equity Ratio	639.6%

How did 3A9 perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/06/08 06:56
End of Day Share Price	2026/06/08 00:00
Earnings	2026/03/31
Annual Earnings	2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Cipher Digital Inc. is covered by 19 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Andrew Charles Beale	Arete Research Services LLP
Gautam Chhugani	Bernstein
Gregory Lewis	BTIG