Cipher Mining (CIFR) — BTC Stacking Curve
Cumulative holdings, every disclosed buy, share price, and the best-fit saturation curve.
Cipher Mining holds 1,500 BTC across 14 disclosed purchases. Average cost basis $63,255 per BTC. Last 30 days: 0 BTC. Last 90 days: 0 BTC — 0/week. Best fit: Gompertz (R² 0.15). Curve flattens toward 1,553 BTC, steepest accumulation Apr 2023.
Transaction history
All BTC transactions, most recent first.
| Date | BTC | Spot | USD Cost | Cumulative |
|---|---|---|---|---|
| Oct 7, 2025 | 86 | $124.7K | $10.7M | 1,500 |
| Sep 5, 2025 | 351 | $110.7K | $38.9M | 1,414 |
| Jul 2, 2025 | 97 | $105.6K | $10.2M | 1,063 |
| May 31, 2025 | 111 | $104.0K | $11.5M | 966 |
| Apr 30, 2025 | −179 | $94.3K | $16.9M | 855 |
| Mar 31, 2025 | 2 | $82.3K | $164.7K | 1,034 |
| Feb 28, 2025 | −59 | $84.8K | $5.0M | 1,032 |
| Jan 31, 2025 | −253 | $104.8K | $26.5M | 1,091 |
| Jan 7, 2025 | −39 | $102.2K | $4.0M | 1,344 |
| Nov 30, 2024 | −45 | $97.4K | $4.4M | 1,383 |
| Oct 31, 2024 | −84 | $72.4K | $6.1M | 1,428 |
| Sep 30, 2024 | −772 | $65.7K | $50.7M | 1,512 |
| Aug 31, 2024 | 14 | $59.2K | $828.2K | 2,284 |
| Jul 31, 2024 | 61 | $66.2K | $4.0M | 2,270 |
| Jun 30, 2024 | 67 | $61.0K | $4.1M | 2,209 |
| May 31, 2024 | 109 | $68.4K | $7.5M | 2,142 |
| Apr 30, 2024 | 292 | $63.8K | $18.6M | 2,033 |
| Mar 31, 2024 | 308 | $69.7K | $21.5M | 1,741 |
| Mar 1, 2024 | 301 | $61.3K | $18.4M | 1,433 |
| Jan 1, 2024 | 667 | $42.2K | $28.2M | 1,132 |
| Mar 1, 2023 | 465 | $23.1K | $10.8M | 465 |
How to read this chart
Cumulative BTC held — the staircase. Each step is a disclosed purchase; the step height is the size of the buy.
Purchase bubbles — one per buy. Bubble size is the BTC count; vertical position is the per-BTC cost basis. Small-and-high is a small buy at a high price; big-and-low is a big buy made cheap.
Share price — the secondary line on the right axis. Did the company stack faster when its equity ran hot?
Regression fit — the best of a Richards and a Gompertz saturation curve, chosen by log-R². It has to flatten: there are only 21 million Bitcoin.
Controls — Linear/Log switches the BTC axis. Play animates the curve forward through disclosure time. ‹ › steps through the cohort by holdings.