vs
Cipher Mining Inc.（CIFR）与Core Scientific, Inc.（CORZ）财务数据对比。点击上方公司名可切换其他公司
Core Scientific, Inc.的季度营收约是Cipher Mining Inc.的1.3倍（$79.8M vs $59.7M），Core Scientific, Inc.净利率更高（268.5% vs -1229.6%，领先1498.1%），Cipher Mining Inc.同比增速更快（41.4% vs -16.0%），Core Scientific, Inc.自由现金流更多（$-450.8M vs $-695.9M），过去两年Cipher Mining Inc.的营收复合增速更高（11.4% vs -33.3%）
Cipher Mining Inc.是总部位于美国的比特币挖矿生态运营企业，当前正全力发展加密货币相关业务，深耕加密行业上游基础设施赛道，依托技术及合规优势构建稳定高效的挖矿服务体系。
Core Scientific是全球领先的数字资产与高性能计算基础设施服务商，在北美多地运营高能效大型数据中心，主营加密货币挖矿业务，同时为区块链、人工智能领域客户提供托管及定制化算力解决方案。
CIFR vs CORZ — 直观对比
营收规模更大
CORZ
是对方的1.3倍
$59.7M
营收增速更快
CIFR
高出57.4%
-16.0%
净利率更高
CORZ
高出1498.1%
-1229.6%
自由现金流更多
CORZ
多$245.1M
$-695.9M
两年增速更快
CIFR
近两年复合增速
-33.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $59.7M | $79.8M |
| 净利润 | $-734.2M | $214.2M |
| 毛利率 | 59.4% | 26.0% |
| 营业利润率 | -503.4% | -149.5% |
| 净利率 | -1229.6% | 268.5% |
| 营收同比 | 41.4% | -16.0% |
| 净利润同比 | -4293.1% | 180.6% |
| 每股收益（稀释后） | $-1.91 | $-1.63 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收CIFRCORZ
| Q4 25 | $59.7M | $79.8M | ||
| Q3 25 | $71.7M | $81.1M | ||
| Q2 25 | $43.6M | $78.6M | ||
| Q1 25 | $49.0M | $79.5M | ||
| Q4 24 | $42.2M | $94.9M | ||
| Q3 24 | $24.1M | $95.4M | ||
| Q2 24 | $36.8M | $141.1M | ||
| Q1 24 | $48.1M | $179.3M |
净利润CIFRCORZ
| Q4 25 | $-734.2M | $214.2M | ||
| Q3 25 | $-3.3M | $-144.0M | ||
| Q2 25 | $-45.8M | $-936.8M | ||
| Q1 25 | $-39.0M | $576.3M | ||
| Q4 24 | $17.5M | $-265.5M | ||
| Q3 24 | $-86.8M | $-455.3M | ||
| Q2 24 | $-15.3M | $-902.2M | ||
| Q1 24 | $39.9M | $210.7M |
毛利率CIFRCORZ
| Q4 25 | 59.4% | 26.0% | ||
| Q3 25 | 62.7% | 4.8% | ||
| Q2 25 | 64.8% | 6.4% | ||
| Q1 25 | 69.6% | 10.3% | ||
| Q4 24 | 56.9% | 5.0% | ||
| Q3 24 | 37.5% | -0.2% | ||
| Q2 24 | 61.2% | 27.5% | ||
| Q1 24 | 69.2% | 43.3% |
营业利润率CIFRCORZ
| Q4 25 | -503.4% | -149.5% | ||
| Q3 25 | -52.5% | -67.6% | ||
| Q2 25 | -103.9% | -33.4% | ||
| Q1 25 | -77.8% | -59.1% | ||
| Q4 24 | 40.5% | -41.9% | ||
| Q3 24 | -379.2% | -43.2% | ||
| Q2 24 | -43.9% | -64.3% | ||
| Q1 24 | 97.2% | 30.8% |
净利率CIFRCORZ
| Q4 25 | -1229.6% | 268.5% | ||
| Q3 25 | -4.6% | -177.6% | ||
| Q2 25 | -105.1% | -1191.4% | ||
| Q1 25 | -79.6% | 724.6% | ||
| Q4 24 | 41.5% | -279.7% | ||
| Q3 24 | -359.9% | -477.4% | ||
| Q2 24 | -41.5% | -639.4% | ||
| Q1 24 | 82.9% | 117.5% |
每股收益（稀释后）CIFRCORZ
| Q4 25 | $-1.91 | $-1.63 | ||
| Q3 25 | $-0.01 | $-0.45 | ||
| Q2 25 | $-0.12 | $-0.04 | ||
| Q1 25 | $-0.11 | $1.24 | ||
| Q4 24 | $0.04 | $0.51 | ||
| Q3 24 | $-0.26 | $-1.17 | ||
| Q2 24 | $-0.05 | $-5.05 | ||
| Q1 24 | $0.13 | $0.78 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $628.3M | $311.4M |
| 总债务越低越好 | $2.7B | — |
| 股东权益账面价值 | $805.5M | $-962.7M |
| 总资产 | $4.3B | $2.3B |
| 负债/权益比越低杠杆越低 | 3.37× | — |
8季度趋势，按日历期对齐
现金及短期投资CIFRCORZ
| Q4 25 | $628.3M | $311.4M | ||
| Q3 25 | $1.2B | $453.4M | ||
| Q2 25 | $62.7M | $581.3M | ||
| Q1 25 | $23.2M | $697.9M | ||
| Q4 24 | $5.6M | $836.2M | ||
| Q3 24 | $25.3M | $253.0M | ||
| Q2 24 | $122.6M | $96.1M | ||
| Q1 24 | $88.7M | $98.1M |
总债务CIFRCORZ
| Q4 25 | $2.7B | — | ||
| Q3 25 | $1.0B | — | ||
| Q2 25 | $167.1M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0 | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CIFRCORZ
| Q4 25 | $805.5M | $-962.7M | ||
| Q3 25 | $783.2M | $-1.3B | ||
| Q2 25 | $748.9M | $-1.2B | ||
| Q1 25 | $734.8M | $-308.8M | ||
| Q4 24 | $682.0M | $-943.0M | ||
| Q3 24 | $672.0M | $-826.7M | ||
| Q2 24 | $690.8M | $-1.2B | ||
| Q1 24 | $600.9M | $-318.5M |
总资产CIFRCORZ
| Q4 25 | $4.3B | $2.3B | ||
| Q3 25 | $2.8B | $2.2B | ||
| Q2 25 | $1.0B | $1.9B | ||
| Q1 25 | $913.8M | $1.5B | ||
| Q4 24 | $855.4M | $1.5B | ||
| Q3 24 | $775.4M | $824.6M | ||
| Q2 24 | $775.6M | $664.2M | ||
| Q1 24 | $677.1M | $814.0M |
负债/权益比CIFRCORZ
| Q4 25 | 3.37× | — | ||
| Q3 25 | 1.31× | — | ||
| Q2 25 | 0.22× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-207.9M | $278.3M |
| 自由现金流经营现金流 - 资本支出 | $-695.9M | $-450.8M |
| 自由现金流率自由现金流/营收 | -1165.4% | -565.1% |
| 资本支出强度资本支出/营收 | 817.1% | 914.0% |
| 现金转化率经营现金流/净利润 | — | 1.30× |
| 过去12个月自由现金流最近4个季度 | $-1.1B | $-779.8M |
8季度趋势，按日历期对齐
经营现金流CIFRCORZ
| Q4 25 | $-207.9M | $278.3M | ||
| Q3 25 | $-50.1M | $131.8M | ||
| Q2 25 | $-56.2M | $34.0M | ||
| Q1 25 | $-47.2M | $-45.0M | ||
| Q4 24 | $-87.5M | $42.9M | ||
| Q3 24 | $-6.5M | $5.7M | ||
| Q2 24 | $-25.4M | $1.2M | ||
| Q1 24 | $-26.6M | $22.2M |
自由现金流CIFRCORZ
| Q4 25 | $-695.9M | $-450.8M | ||
| Q3 25 | $-256.2M | $-112.7M | ||
| Q2 25 | $-87.5M | $-87.3M | ||
| Q1 25 | $-71.8M | $-129.0M | ||
| Q4 24 | $-227.0M | $-52.1M | ||
| Q3 24 | $-83.2M | $-25.5M | ||
| Q2 24 | $-33.2M | $-1.9M | ||
| Q1 24 | $-34.5M | $-9.7M |
自由现金流率CIFRCORZ
| Q4 25 | -1165.4% | -565.1% | ||
| Q3 25 | -357.3% | -139.0% | ||
| Q2 25 | -200.9% | -111.0% | ||
| Q1 25 | -146.7% | -162.2% | ||
| Q4 24 | -537.6% | -54.8% | ||
| Q3 24 | -345.0% | -26.7% | ||
| Q2 24 | -90.2% | -1.4% | ||
| Q1 24 | -71.7% | -5.4% |
资本支出强度CIFRCORZ
| Q4 25 | 817.1% | 914.0% | ||
| Q3 25 | 287.5% | 301.5% | ||
| Q2 25 | 71.8% | 154.2% | ||
| Q1 25 | 50.2% | 105.6% | ||
| Q4 24 | 330.4% | 100.0% | ||
| Q3 24 | 317.8% | 32.7% | ||
| Q2 24 | 21.4% | 2.2% | ||
| Q1 24 | 16.4% | 17.8% |
现金转化率CIFRCORZ
| Q4 25 | — | 1.30× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -0.08× | ||
| Q4 24 | -5.00× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.67× | 0.11× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
CIFR
暂无分部数据
CORZ
| Other | $36.3M | 46% |
| Digital Asset Self Mining Service | $31.8M | 40% |
| Colocation Service | $11.6M | 15% |
