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• Cipher Mining trades at a price-to-book ratio of 11.9x, a steep premium to the broader US software industry average of 4x but lower than the peer group’s 15.9x. This indicates that investors are paying up for rapid revenue growth and future optionality rather than near-term profitability.

• Analysts’ consensus view shows this optimism is not unbridled. With the current share price at 22.75 and an analyst price target of 21.88, the market appears to have already priced in much of the expected growth, while potential rewards are balanced against material risks in execution and margin discipline.

  • Consensus narrative notes the price target requires Cipher to achieve $91.1 million in earnings and a 52.2x P/E by September 2028, which is considerably higher than today’s -20.7x and above the industry P/E of 36.6x.

  • Bears argue that missing these aggressive targets or encountering persistent volatility in Bitcoin or energy costs could make the current valuation hard to justify, even with industry-leading revenue gains.

For a full breakdown of how these figures shape the broader investment story, see the analysts’ narrative for Cipher Mining’s most likely scenarios. 📊 Read the full Cipher Mining Consensus Narrative.

To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for Cipher Mining on Simply Wall St. Add the company to your watchlist or portfolio so you’ll be alerted when the story evolves.

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A great starting point for your Cipher Mining research is our analysis highlighting 1 key reward and 3 important warning signs that could impact your investment decision.

Cipher Mining’s persistent losses, thin margins, and premium valuation raise concerns for investors seeking more consistent profitability and financial discipline.

If dependable results appeal to you, use our stable growth stocks screener (2094 results) to discover companies that deliver steadier earnings and revenue from quarter to quarter.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include CIFR.

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