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Side-by-side financial comparison of Cipher Mining Inc. (CIFR) and HIVE Digital Technologies Ltd. (HIVE). Click either name above to swap in a different company.
HIVE Digital Technologies Ltd. is the larger business by last-quarter revenue ($93.1M vs $59.7M, roughly 1.6× Cipher Mining Inc.). HIVE Digital Technologies Ltd. runs the higher net margin — -98.1% vs -1229.6%, a 1131.5% gap on every dollar of revenue. On growth, HIVE Digital Technologies Ltd. posted the faster year-over-year revenue change (218.6% vs 41.4%). Over the past eight quarters, HIVE Digital Technologies Ltd.'s revenue compounded faster (102.2% CAGR vs 11.4%).
Cipher Mining, Inc. operates as a Bitcoin mining ecosystem in the United States. The firm is developing a cryptocurrency business.
Mastech Digital, Inc. is a digital transformation and information technology (IT) services company headquartered in Pittsburgh, Pennsylvania, providing services to corporations across North America, Middle East, Asian, and Japan.
CIFR vs HIVE — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $59.7M | $93.1M |
| Net Profit | $-734.2M | $-91.3M |
| Gross Margin | 59.4% | -27.1% |
| Operating Margin | -503.4% | — |
| Net Margin | -1229.6% | -98.1% |
| Revenue YoY | 41.4% | 218.6% |
| Net Profit YoY | -4293.1% | -234.0% |
| EPS (diluted) | $-1.91 | $-0.38 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $59.7M | $93.1M | ||
| Q3 25 | $71.7M | $87.3M | ||
| Q2 25 | $43.6M | $45.6M | ||
| Q1 25 | $49.0M | — | ||
| Q4 24 | $42.2M | $29.2M | ||
| Q3 24 | $24.1M | $22.6M | ||
| Q2 24 | $36.8M | $32.2M | ||
| Q1 24 | $48.1M | — |
| Q4 25 | $-734.2M | $-91.3M | ||
| Q3 25 | $-3.3M | $-15.8M | ||
| Q2 25 | $-45.8M | $35.0M | ||
| Q1 25 | $-39.0M | — | ||
| Q4 24 | $17.5M | $68.2M | ||
| Q3 24 | $-86.8M | $80.0K | ||
| Q2 24 | $-15.3M | $-18.3M | ||
| Q1 24 | $39.9M | — |
| Q4 25 | 59.4% | -27.1% | ||
| Q3 25 | 62.7% | 4.7% | ||
| Q2 25 | 64.8% | -13.6% | ||
| Q1 25 | 69.6% | — | ||
| Q4 24 | 56.9% | -43.7% | ||
| Q3 24 | 37.5% | -66.1% | ||
| Q2 24 | 61.2% | -7.4% | ||
| Q1 24 | 69.2% | — |
| Q4 25 | -503.4% | — | ||
| Q3 25 | -52.5% | — | ||
| Q2 25 | -103.9% | — | ||
| Q1 25 | -77.8% | — | ||
| Q4 24 | 40.5% | — | ||
| Q3 24 | -379.2% | — | ||
| Q2 24 | -43.9% | — | ||
| Q1 24 | 97.2% | — |
| Q4 25 | -1229.6% | -98.1% | ||
| Q3 25 | -4.6% | -18.1% | ||
| Q2 25 | -105.1% | 76.8% | ||
| Q1 25 | -79.6% | — | ||
| Q4 24 | 41.5% | 233.2% | ||
| Q3 24 | -359.9% | 0.4% | ||
| Q2 24 | -41.5% | -56.7% | ||
| Q1 24 | 82.9% | — |
| Q4 25 | $-1.91 | $-0.38 | ||
| Q3 25 | $-0.01 | $-0.07 | ||
| Q2 25 | $-0.12 | $0.18 | ||
| Q1 25 | $-0.11 | — | ||
| Q4 24 | $0.04 | $0.52 | ||
| Q3 24 | $-0.26 | $0.00 | ||
| Q2 24 | $-0.05 | $-0.17 | ||
| Q1 24 | $0.13 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $628.3M | — |
| Total DebtLower is stronger | $2.7B | — |
| Stockholders' EquityBook value | $805.5M | $559.3M |
| Total Assets | $4.3B | $624.0M |
| Debt / EquityLower = less leverage | 3.37× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $628.3M | — | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $62.7M | — | ||
| Q1 25 | $23.2M | — | ||
| Q4 24 | $5.6M | $40.5M | ||
| Q3 24 | $25.3M | $31.7M | ||
| Q2 24 | $122.6M | — | ||
| Q1 24 | $88.7M | — |
| Q4 25 | $2.7B | — | ||
| Q3 25 | $1.0B | — | ||
| Q2 25 | $167.1M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0 | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $805.5M | $559.3M | ||
| Q3 25 | $783.2M | $624.6M | ||
| Q2 25 | $748.9M | $560.5M | ||
| Q1 25 | $734.8M | — | ||
| Q4 24 | $682.0M | $430.9M | ||
| Q3 24 | $672.0M | $275.5M | ||
| Q2 24 | $690.8M | $268.6M | ||
| Q1 24 | $600.9M | — |
| Q4 25 | $4.3B | $624.0M | ||
| Q3 25 | $2.8B | $693.0M | ||
| Q2 25 | $1.0B | $628.7M | ||
| Q1 25 | $913.8M | — | ||
| Q4 24 | $855.4M | $478.6M | ||
| Q3 24 | $775.4M | $334.7M | ||
| Q2 24 | $775.6M | — | ||
| Q1 24 | $677.1M | — |
| Q4 25 | 3.37× | — | ||
| Q3 25 | 1.31× | — | ||
| Q2 25 | 0.22× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-207.9M | $46.0M |
| Free Cash FlowOCF − Capex | $-695.9M | — |
| FCF MarginFCF / Revenue | -1165.4% | — |
| Capex IntensityCapex / Revenue | 817.1% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-1.1B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-207.9M | $46.0M | ||
| Q3 25 | $-50.1M | $-10.6M | ||
| Q2 25 | $-56.2M | $10.2M | ||
| Q1 25 | $-47.2M | — | ||
| Q4 24 | $-87.5M | $-28.5M | ||
| Q3 24 | $-6.5M | $-2.2M | ||
| Q2 24 | $-25.4M | $-4.4M | ||
| Q1 24 | $-26.6M | — |
| Q4 25 | $-695.9M | — | ||
| Q3 25 | $-256.2M | — | ||
| Q2 25 | $-87.5M | — | ||
| Q1 25 | $-71.8M | — | ||
| Q4 24 | $-227.0M | $-55.5M | ||
| Q3 24 | $-83.2M | $-34.7M | ||
| Q2 24 | $-33.2M | — | ||
| Q1 24 | $-34.5M | — |
| Q4 25 | -1165.4% | — | ||
| Q3 25 | -357.3% | — | ||
| Q2 25 | -200.9% | — | ||
| Q1 25 | -146.7% | — | ||
| Q4 24 | -537.6% | -189.9% | ||
| Q3 24 | -345.0% | -153.4% | ||
| Q2 24 | -90.2% | — | ||
| Q1 24 | -71.7% | — |
| Q4 25 | 817.1% | — | ||
| Q3 25 | 287.5% | — | ||
| Q2 25 | 71.8% | — | ||
| Q1 25 | 50.2% | — | ||
| Q4 24 | 330.4% | 92.5% | ||
| Q3 24 | 317.8% | 143.9% | ||
| Q2 24 | 21.4% | — | ||
| Q1 24 | 16.4% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.29× | ||
| Q1 25 | — | — | ||
| Q4 24 | -5.00× | -0.42× | ||
| Q3 24 | — | -26.94× | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.67× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
