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Cipher Mining

New York, US · founded 2021
L4 · Compute Capacity Providersalso L0also L1
ex-crypto convertsincumbentpublic
Crypto heritage

Cipher Mining owns large bitcoin mining campuses and is increasingly positioning them for AI infrastructure demand. Its value comes from power access, site control and the option to repurpose capacity.

Ecosystem functionCipher is a power-asset optionality play inside AI infrastructure, differentiated by large energised sites that can shift from mining toward higher-value compute tenants.

Business modelpower-rich site monetization

Revenue$34.8M (Q1 2026)
Valuation$8.40Breported
Last round$200M (credit facility)2026
Sources · 4 ↓
  1. https://www.ciphermining.com/
  2. https://companiesmarketcap.com/cipher-mining/marketcap/
  3. https://www.investing.com/news/company-news/cipher-mining-q1-2026-slides-114b-contracted-revenue-hpc-shift-93CH-4659528
  4. https://www.fool.com/coverage/stock-market-today/2026/05/05/stock-market-today-may-5-cipher-mining-surges-on-ai-data-center-shif
News
Suggest an editLast verified 2026-07-26
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