Cipher Mining
Cipher Mining is a niche in the AI & Data Center segment of the semiconductor & AI supply chain, headquartered in United States. Its key suppliers include Vertiv, Schneider Electric, Eaton. Its key customers include Amazon (Annapurna Labs), Microsoft, Alphabet (Google).
Data-center developer for HPC/AI and bitcoin mining.
- Ticker
- NASDAQ: CIFR
- Headquarters
- United States
- Revenue
- $224M (FY2025) · +48.0% YoY
- Net income
- $-822M
- Operating margin
- -188.3%
- Market position
- niche
- Value-chain segment
- Data Center Operators (Colo)
- Key products
- bitcoin mining data centers, HPC colocation
About Cipher Mining
Cipher Mining, headquartered in United States, operates in the Data Center Operators (Colo) segment of the semiconductor & AI supply chain and is positioned as a market niche there. Its key products include bitcoin mining data centers, HPC colocation. wafergraph maps 4 tracked suppliers and 5 tracked customers for Cipher Mining across the value chain. It has a supply-chain criticality score of 6/100, with 19 companies downstream of it.
Role in the chain
Cipher Mining is a market niche in AI & Data Center (Data Center Operators (Colo)), headquartered in United States. Data-center developer for HPC/AI and bitcoin mining.
Diligence questions
- The dataset records 4 tracked suppliers for Cipher Mining. Which of those edges are researched (named in a filing or primary source) versus segment-inferred, and what happens if one of them stops shipping?
- 3 of Cipher Mining's tracked suppliers are a monopoly or leader (including Delta Electronics, Schneider Electric, Vertiv). Which of those are actually single-source for the process step you care about?
- The dataset names 5 tracked customers for Cipher Mining. How concentrated is demand among those names, and which of them have a documented second source in this graph?
- Cipher Mining is headquartered in United States. What jurisdiction, export-control or logistics risk sits at that HQ, versus at the fabs or plants the filings actually name?
- Cipher Mining trades as NASDAQ:CIFR. What does the latest reported period say about capacity and backlog versus the graph position above?
- Before treating any edge as a verified relationship, check the provenance labels on the company page and the method note at /methodology.
Key products
- bitcoin mining data centers
- HPC colocation
Suppliers
Customers
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Sources
Open the interactive supply-chain view →
Cite as: wafergraph, “Cipher Mining — supply chain, financials & market position”, https://wafergraph.com/company/cipher_mining (data as of 2026-09-05).
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