Cipher Mining vs Hut 8
Both are primarily Data Center Operators (Colo) companies. Hut 8 is larger by market cap ($9.8B vs $5.6B). Hut 8 reports higher tracked revenue ($235M vs $224M).
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Side-by-side
| Cipher Mining | Hut 8 | |
|---|---|---|
| Market cap | $5.6B | $9.8B |
| Revenue | $224M (FY2025) | $235M (FY2025) |
| Primary segment | Data Center Operators (Colo) | Data Center Operators (Colo) |
| Market position | niche | niche |
| Country | United States | United States |
| Tracked suppliers | 4 | 4 |
| Tracked customers | 5 | 5 |
| Chokepoint / criticality | 6/100 | 6/100 |
Market caps/revenue from the wafergraph dataset · data as of 2026-10-09. Criticality is a graph-derived chokepoint score (0–100). Coverage is partial; "Unpriced" means no reliable market cap.
How Cipher Mining and Hut 8 compare
- Size: Hut 8 is the larger company by market cap.
- Revenue: Hut 8 reports higher tracked revenue.
- Supply-chain criticality: Both companies have the same chokepoint score (6/100).
- Footprint: Cipher Mining (United States) vs Hut 8 (United States).
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Cite as: wafergraph, “Cipher Mining vs Hut 8”, https://wafergraph.com/compare/cipher_mining-vs-hut8 (data as of 2026-10-09).
Frequently asked questions3
- Is Cipher Mining bigger than Hut 8?
- Hut 8 is larger by market cap ($9.8B vs $5.6B).
- What's the difference between Cipher Mining and Hut 8?
- Cipher Mining is a niche in Data Center Operators (Colo) based in United States; Hut 8 is a niche in Data Center Operators (Colo) based in United States. Both operate in the AI & Data Center segment.
- Who are Cipher Mining's and Hut 8's suppliers?
- wafergraph tracks 4 suppliers for Cipher Mining and 4 for Hut 8.