Cipher Mining vs IREN
IREN is larger by market cap ($14.2B vs $7.1B). IREN reports higher tracked revenue ($501M vs $224M). Both are primarily Data Center Operators (Colo) companies.
Shared segment: AI & Data Center.
Side-by-side
| Cipher Mining | IREN | |
|---|---|---|
| Market cap | $7.1B | $14.2B |
| Revenue | $224M (FY2025) | $501M (FY2025) |
| Primary segment | Data Center Operators (Colo) | Data Center Operators (Colo) |
| Market position | niche | challenger |
| Country | United States | Australia |
| Tracked suppliers | 4 | 7 |
| Tracked customers | 5 | 5 |
| Chokepoint / criticality | 6/100 | 7/100 |
Market caps/revenue from the wafergraph dataset · data as of 2026-08-12. Criticality is a graph-derived chokepoint score (0–100). Coverage is partial; "Unpriced" means no reliable market cap.
How Cipher Mining and IREN compare
- Size: IREN is the larger company by market cap.
- Revenue: IREN reports higher tracked revenue.
- Supply-chain criticality: IREN has the higher chokepoint score (7/100 vs 6/100).
- Footprint: Cipher Mining (United States) vs IREN (Australia).