Bullish (BLSH) vs Cipher Digital (CIFR)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Cipher Digital (CIFR) has outperformed Bullish (BLSH) over the past year, losing 23.3% versus a loss of 53.4%. Cipher Digital is the larger company by market cap ($5.60 billion vs $4.76 billion), about 1.2 times the size. On valuation, Bullish trades at a lower forward P/E (43.3x vs 102.4x for Cipher Digital).
Bullish converts more of its revenue into profit, with a net margin of -0.3% versus -367.2%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | BLSH | CIFR |
|---|---|---|
| Share price | $31.41 | $13.50 |
| Market cap | $4.76B | $5.60B |
| 1-day change | -1.29% | -7.28% |
| YTD return | -17.06% | -8.54% |
| 1-year return | -53.40% | -23.30% |
| 5-year return | — | +93.13% |
| Forward P/E | 43.32 | 102.42 |
| EPS (TTM) | $-9.70 | $-2.66 |
| Dividend yield | 0.00% | 0.00% |
| Annual dividend | $0.00 | $0.00 |
| Revenue (latest FY) | $244.81B | $223.94M |
| Revenue growth (YoY) | -2.15% | +48.04% |
| Net income (latest FY) | $-764.68M | $-822.24M |
| Gross margin | 0.03% | 63.73% |
| Operating margin | — | -188.25% |
| Net margin | -0.31% | -367.17% |
| 52-week high | $68.00 | $30.14 |
| 52-week low | $20.55 | $11.72 |
| Distance from 52-week high | -53.81% | -55.21% |
| Analyst consensus | buy | strong_buy |
| Avg. price target upside | +29.96% | +125.78% |
| Average volume | 1.50M | 33.39M |
| Shares outstanding | 151.65M | 415.03M |
| Employees | 394 | 66 |
| Sector | Finance | Technology |
| Industry | Finance: Consumer Services | Information Technology Services |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- CIFR has outperformed BLSH by 30.1 percentage points over the past year.
- Bullish is more profitable, keeping -0.3 cents of every revenue dollar as net income versus -367.2 cents for Cipher Digital.
- Cipher Digital grew revenue faster in its latest fiscal year (+48.04% vs -2.15%).
- The two companies sit in different sectors: Bullish in Finance and Cipher Digital in Technology.
About Bullish
BLSH stock →Bullish, a global digital asset platform that provides market infrastructure and information services in United States. The company operates Bullish Exchange, a digital assets spot and derivatives exchange that integrates a central limit order book matching engine with automated market making to provide deep and predictable liquidity.
Finance · Finance: Consumer Services · 394 employees
About Cipher Digital
CIFR stock →Cipher Digital Inc., together with its subsidiaries, develops and operates industrial-scale data centers for bitcoin mining and high-performance compute (HPC) hosting in the United States. It develops HPC data center facilities across various sites for hyperscaler tenants; operates power at one bitcoin mining data center; and maintains a pipeline across various sites.
Technology · Information Technology Services · 66 employees
BLSH vs CIFR FAQ
Which is bigger, Bullish or Cipher Digital?
Cipher Digital (CIFR) is larger, with a market capitalization of $5.60B compared with $4.76B for Bullish (BLSH).
Which stock has performed better over the past year, BLSH or CIFR?
CIFR returned -23.30% over the past 12 months, compared with -53.40% for BLSH (price return, excluding dividends). Past performance does not predict future results.
Are Bullish and Cipher Digital in the same industry?
No. Bullish is in the Finance sector, while Cipher Digital is in Technology.