BTBT vs. CIFR

Last updated Jul 21, 2026

BTBT (Bit Digital, Inc.) and CIFR (Cipher Digital Inc.) are both stocks. Both operate in the Information Technology Services industry within the Technology sector. Over the past 3 years, BTBT returned -27.01%/yr vs 67.89%/yr for CIFR. A 0.62 correlation means they provide meaningful diversification when combined.

Performance

BTBT vs. CIFR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bit Digital, Inc. (BTBT) and Cipher Digital Inc. (CIFR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTBT achieves a -18.52% return, which is significantly lower than CIFR's 39.16% return.

BTBT

• 1D: 10.00%
• 1M: -29.03%
• 6M: -35.02%
• YTD: -18.52%
• 1Y: -59.90%
• 3Y*: -27.01%
• 5Y*: -20.10%
• 10Y*: —
• ALL TIME*: -13.59%

CIFR

• 1D: 16.97%
• 1M: -29.61%
• 6M: 9.26%
• YTD: 39.16%
• 1Y: 222.96%
• 3Y*: 67.89%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.38%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BTBT vs. CIFR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BTBT Bit Digital, Inc.	-18.52%	-35.49%	-30.73%	605.00%	-90.13%	-51.20%
CIFR Cipher Digital Inc.	39.16%	218.10%	12.35%	637.50%	-87.90%	-54.65%

Correlation

The correlation between BTBT and CIFR is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (All Time) Calculated using the full available price history since Aug 30, 2021	0.62

The correlation between BTBT and CIFR has been stable across timeframes, ranging from 0.62 to 0.69 - a consistent structural relationship.

Fundamentals

Market Cap BTBT : $537.75M CIFR : $8.40B
EPS BTBT : -$454.28 CIFR : -$2.32
PS Ratio BTBT : 0.02 CIFR : 45.51
PB Ratio BTBT : 0.00 CIFR : 11.65
Total Revenue (TTM) BTBT : $28.01B CIFR : $174.98M
Gross Profit (TTM) BTBT : $48.37M CIFR : -$172.84M
EBITDA (TTM) BTBT : -$162.09B CIFR : -$169.22M

Return for Risk

BTBT vs. CIFR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BTBT

BTBT Risk / Return Rank: 14
BTBT Sharpe Ratio Rank: 14
BTBT Sortino Ratio Rank: 15
BTBT Omega Ratio Rank: 17
BTBT Calmar Ratio Rank: 10
BTBT Martin Ratio Rank: 13

CIFR

CIFR Risk / Return Rank: 89
CIFR Sharpe Ratio Rank: 92
CIFR Sortino Ratio Rank: 89
CIFR Omega Ratio Rank: 85
CIFR Calmar Ratio Rank: 93
CIFR Martin Ratio Rank: 88

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BTBT vs. CIFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bit Digital, Inc. (BTBT) and Cipher Digital Inc. (CIFR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BTBT	CIFR	Difference
Sharpe ratio: Return per unit of total volatility	-0.69	2.03	-2.72
Sortino ratio: Return per unit of downside risk	-0.88	2.68	-3.56
Omega ratio: Gain probability vs. loss probability	0.90	1.30	-0.40
Calmar ratio: Return relative to maximum drawdown	-0.86	4.37	-5.23
Martin ratio: Return relative to average drawdown	-1.28	8.45	-9.73

BTBT vs. CIFR - Sharpe Ratio Comparison

The current BTBT Sharpe Ratio is -0.69, which is lower than the CIFR Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of BTBT and CIFR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BTBT vs. CIFR - Drawdown Comparison

The maximum BTBT drawdown since its inception was -98.16%, roughly equal to the maximum CIFR drawdown of -97.16%. Use the drawdown chart below to compare losses from any high point for BTBT and CIFR.

Drawdown Indicators

	BTBT	CIFR	Difference
Max Drawdown Largest peak-to-trough decline	-98.16%	-97.16%	-1.00%
Max Drawdown (1Y) Largest decline over 1 year	-70.02%	-51.38%	-18.64%
Max Drawdown (3Y) Largest decline over 3 years	-77.08%	-71.74%	-5.34%
Max Drawdown (5Y) Largest decline over 5 years	-96.92%	—	—
Current Drawdown Current decline from peak	-94.74%	-29.61%	-65.13%
Average Drawdown Average peak-to-trough decline	-75.82%	-65.31%	-10.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	47.63%	26.50%	+21.13%

Volatility

BTBT vs. CIFR - Volatility Comparison

The current volatility for Bit Digital, Inc. (BTBT) is 23.53%, while Cipher Digital Inc. (CIFR) has a volatility of 33.12%. This indicates that BTBT experiences smaller price fluctuations and is considered to be less risky than CIFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTBT	CIFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.53%	33.12%	-9.59%
Volatility (6M) Calculated over the trailing 6-month period	63.06%	74.07%	-11.01%
Volatility (1Y) Calculated over the trailing 1-year period	87.22%	110.94%	-23.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	117.56%	121.73%	-4.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	133.36%	121.73%	+11.63%

Dividends

BTBT vs. CIFR - Dividend Comparison

Neither BTBT nor CIFR has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both BTBT and CIFR in my portfolio?

BTBT and CIFR have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BTBT or CIFR?

CIFR has higher volatility (33.12%) compared to BTBT (23.53%). In terms of maximum drawdown, BTBT dropped -98.16% vs CIFR's -97.16%.

Which has better risk-adjusted returns?

CIFR currently has the higher Sharpe Ratio (2.03 vs -0.69), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.