CIFR
Quality Rating
Cipher Mining Inc. (CIFR), operating in its industry, focuses on Bitcoin mining and digital asset infrastructure. Financial screening reveals strong quantitative compliance with low debt (1.91%), liquidity (0.76%), and interest income (0.41%) ratios passing all major thresholds. However, the core business activity in cryptocurrency mining introduces qualitative risks due to debates on gharar and speculation under Shariah principles. Research confirms exclusion from all major Shariah indices due to business classification. A minor purification of 0.41% is required for incidental interest income, resulting in an overall NON_COMPLIANT status with a BBB quality rating.
Purification Required
Minimal purification needed for dividend income
Index Inclusion
Not included in S&P Dow Jones Shariah Indices, MSCI Islamic Indices, FTSE Shariah Indices, or Dow Jones Islamic Market (DJIM)
Key Compliance Considerations
- Core business in cryptocurrency mining viewed as speculative by index providers
- Exclusion from all major Shariah indices due to business activity screening
Debt Ratio
1.9%
Liquidity Ratio
0.0%
Interest Income Ratio
0.0%
Purification
0.41%