Cipher Digital Inc.

Finance Services·NEW YORK, NY·FY end 12/31·CIK 1819989

CEO Pay Ratio

6:1

Rodney Tyler Page

CEO Total Comp

$15.0M

Rodney Tyler Page

Median Employee

—

Revenue

$223.9M

FY 2025

Net Income

-$822.2M

FY 2025

Free Cash Flow

-$695.9M

FY 2025

Net Margin

-367.2%

Insider Net (180d)

-$12.4M

0 buys / 22 sales

CEO Pay Accountability

CEO comp as % of net income

-1.82%

For every $1,000 of profit, $-18.20 flows to the CEO.

CEO comp as % of buybacks

16.71%

CEO comp equals 167.1‰ of cash returned to shareholders via buybacks.

5-year history · USD

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	Trend
Revenue	$223.9M	$151.3M	$126.8M	$3.0M	—
Gross Profit	—	—	—	—	—	—
Operating Income	-$421.6M	-$43.7M	-$20.1M	-$37.4M	-$72.2M
Net Income	-$822.2M	-$44.6M	-$25.8M	-$39.1M	-$72.2M
Operating CF	-$207.9M	-$87.5M	-$94.2M	-$20.9M	-$31.7M
Capex	$487.9M	$139.5M	$20.5M	$39.8M	$5.1M
Free Cash Flow	-$695.9M	-$227.0M	-$114.7M	-$60.7M	-$36.8M
Buybacks	$89.6M	$27.6M	$3.9M	$3.1M	$23.2M
Dividends	—	—	—	—	—	—

Gross Margin	—	—	—	—	—	—
Operating Margin	-188.2%	-28.9%	-15.9%	-1232.2%	—
Net Margin	-367.2%	-29.5%	-20.3%	-1285.9%	—
FCF Margin	-310.7%	-150.1%	-90.4%	-1999.7%	—
R&D / Revenue	—	—	—	—	—	—
Effective Tax	0.4%	-0.7%	-16.1%	-4.9%	—
Debt / Equity	6.73	—	—	—	—	—
Buybacks / FCF	-12.9%	-12.2%	-3.4%	-5.1%	-63.2%

FY 2025

Executive	Salary	Stock	Options	Bonus / Inc.	Other	Total
Edward FarrellFormer Chief Financial Officer	$415.6K	$24.0M	—	$787.5K	$14.0K	$25.2M
Rodney Tyler PageChief Executive Officer	$825.0K	$12.5M	—	$1.6M	$14.0K	$15.0M
Gregory Mumford	$108.0K	$7.0M	—	$400.0K	—	$7.5M
Patrick KellyCo-President and Chief Operating Officer	$525.0K	$3.7M	—	$787.5K	$14.0K	$5.1M
William IwaschukCo-President, Chief Legal Officer and Corporate Secretary	$525.0K	$3.7M	—	$787.5K	$14.0K	$5.1M