vs
Side-by-side financial comparison of Cipher Mining Inc. (CIFR) and SharpLink Gaming, Inc. (SBET). Click either name above to swap in a different company.
Cipher Mining Inc. is the larger business by last-quarter revenue ($59.7M vs $10.8M, roughly 5.5× SharpLink Gaming, Inc.). SharpLink Gaming, Inc. runs the higher net margin — 961.6% vs -1229.6%, a 2191.2% gap on every dollar of revenue. On growth, SharpLink Gaming, Inc. posted the faster year-over-year revenue change (1129.9% vs 41.4%). SharpLink Gaming, Inc. produced more free cash flow last quarter ($-6.3M vs $-695.9M).
Cipher Mining, Inc. operates as a Bitcoin mining ecosystem in the United States. The firm is developing a cryptocurrency business.
Bonne Terre Limited is a British-based gambling company, owned by Flutter Entertainment, with headquarters in Leeds, West Yorkshire and offices in Solihull. Sky Betting & Gaming consists of five core brands: Sky Bet, Sky Vegas, Sky Casino, Sky Poker and Sky Bingo.
CIFR vs SBET — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $59.7M | $10.8M |
| Net Profit | $-734.2M | $104.3M |
| Gross Margin | 59.4% | — |
| Operating Margin | -503.4% | — |
| Net Margin | -1229.6% | 961.6% |
| Revenue YoY | 41.4% | 1129.9% |
| Net Profit YoY | -4293.1% | 11880.2% |
| EPS (diluted) | $-1.91 | $0.62 |
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 | — | ||
| Q3 25 | $71.7M | $10.8M | ||
| Q2 25 | $43.6M | $697.3K | ||
| Q1 25 | $49.0M | $741.7K | ||
| Q4 24 | $42.2M | $823.1K | ||
| Q3 24 | $24.1M | $881.7K | ||
| Q2 24 | $36.8M | $981.3K | ||
| Q1 24 | $48.1M | $975.9K |
| Q4 25 | $-734.2M | — | ||
| Q3 25 | $-3.3M | $104.3M | ||
| Q2 25 | $-45.8M | $-103.4M | ||
| Q1 25 | $-39.0M | $-974.9K | ||
| Q4 24 | $17.5M | — | ||
| Q3 24 | $-86.8M | $-885.1K | ||
| Q2 24 | $-15.3M | $-463.0K | ||
| Q1 24 | $39.9M | $12.4M |
| Q4 25 | 59.4% | — | ||
| Q3 25 | 62.7% | — | ||
| Q2 25 | 64.8% | 30.0% | ||
| Q1 25 | 69.6% | 17.8% | ||
| Q4 24 | 56.9% | 20.2% | ||
| Q3 24 | 37.5% | 19.6% | ||
| Q2 24 | 61.2% | 28.5% | ||
| Q1 24 | 69.2% | 29.4% |
| Q4 25 | -503.4% | — | ||
| Q3 25 | -52.5% | — | ||
| Q2 25 | -103.9% | -14826.0% | ||
| Q1 25 | -77.8% | -124.8% | ||
| Q4 24 | 40.5% | — | ||
| Q3 24 | -379.2% | -90.4% | ||
| Q2 24 | -43.9% | -122.8% | ||
| Q1 24 | 97.2% | -172.6% |
| Q4 25 | -1229.6% | — | ||
| Q3 25 | -4.6% | 961.6% | ||
| Q2 25 | -105.1% | -14832.1% | ||
| Q1 25 | -79.6% | -131.4% | ||
| Q4 24 | 41.5% | — | ||
| Q3 24 | -359.9% | -100.4% | ||
| Q2 24 | -41.5% | -47.2% | ||
| Q1 24 | 82.9% | 1265.5% |
| Q4 25 | $-1.91 | — | ||
| Q3 25 | $-0.01 | $0.62 | ||
| Q2 25 | $-0.12 | $-4.27 | ||
| Q1 25 | $-0.11 | $-1.84 | ||
| Q4 24 | $0.04 | — | ||
| Q3 24 | $-0.26 | $-3.02 | ||
| Q2 24 | $-0.05 | $-1.35 | ||
| Q1 24 | $0.13 | $40.31 |
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 | $3.1B |
| Total Assets | $4.3B | $3.1B |
| 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 | — | ||
| Q3 24 | $25.3M | — | ||
| 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 | $0 | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $0 | ||
| Q1 24 | — | — |
| Q4 25 | $805.5M | — | ||
| Q3 25 | $783.2M | $3.1B | ||
| Q2 25 | $748.9M | $452.5M | ||
| Q1 25 | $734.8M | $2.1M | ||
| Q4 24 | $682.0M | $2.1M | ||
| Q3 24 | $672.0M | $2.0M | ||
| Q2 24 | $690.8M | $2.8M | ||
| Q1 24 | $600.9M | $2.9M |
| Q4 25 | $4.3B | — | ||
| Q3 25 | $2.8B | $3.1B | ||
| Q2 25 | $1.0B | $453.9M | ||
| Q1 25 | $913.8M | $2.8M | ||
| Q4 24 | $855.4M | $2.6M | ||
| Q3 24 | $775.4M | $2.9M | ||
| Q2 24 | $775.6M | $3.8M | ||
| Q1 24 | $677.1M | $5.4M |
| Q4 25 | 3.37× | — | ||
| Q3 25 | 1.31× | — | ||
| Q2 25 | 0.22× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| 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 | $-6.3M |
| Free Cash FlowOCF − Capex | $-695.9M | $-6.3M |
| FCF MarginFCF / Revenue | -1165.4% | -57.9% |
| Capex IntensityCapex / Revenue | 817.1% | 0.0% |
| Cash ConversionOCF / Net Profit | — | -0.06× |
| TTM Free Cash FlowTrailing 4 quarters | $-1.1B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-207.9M | — | ||
| Q3 25 | $-50.1M | $-6.3M | ||
| Q2 25 | $-56.2M | $-1.6M | ||
| Q1 25 | $-47.2M | $-514.1K | ||
| Q4 24 | $-87.5M | $-22.8M | ||
| Q3 24 | $-6.5M | $-591.2K | ||
| Q2 24 | $-25.4M | $-1.7M | ||
| Q1 24 | $-26.6M | $-19.3M |
| Q4 25 | $-695.9M | — | ||
| Q3 25 | $-256.2M | $-6.3M | ||
| Q2 25 | $-87.5M | — | ||
| Q1 25 | $-71.8M | — | ||
| Q4 24 | $-227.0M | $-22.8M | ||
| Q3 24 | $-83.2M | — | ||
| Q2 24 | $-33.2M | — | ||
| Q1 24 | $-34.5M | $-19.3M |
| Q4 25 | -1165.4% | — | ||
| Q3 25 | -357.3% | -57.9% | ||
| Q2 25 | -200.9% | — | ||
| Q1 25 | -146.7% | — | ||
| Q4 24 | -537.6% | -2772.0% | ||
| Q3 24 | -345.0% | — | ||
| Q2 24 | -90.2% | — | ||
| Q1 24 | -71.7% | -1977.2% |
| Q4 25 | 817.1% | — | ||
| Q3 25 | 287.5% | 0.0% | ||
| Q2 25 | 71.8% | — | ||
| Q1 25 | 50.2% | — | ||
| Q4 24 | 330.4% | 0.2% | ||
| Q3 24 | 317.8% | 0.0% | ||
| Q2 24 | 21.4% | 0.0% | ||
| Q1 24 | 16.4% | 0.2% |
| Q4 25 | — | — | ||
| Q3 25 | — | -0.06× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -5.00× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.67× | -1.56× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CIFR
Segment breakdown not available.
SBET
| ETH Staking Segmet | $10.3M | 95% |
| Other | $569.8K | 5% |
