In the latest data point for Q1'26, the EV/Sales ratio for CIFR reached a significant peak of 288.75. This represents a substantial increase compared to the previous quarter's value of 122.48. The chart data from Q2'23 to Q1'26 shows a generally volatile upward trend, characterized by relatively stable multiples below 33 until Q2'24. A notable surge began in Q3'25, with the ratio escalating from 46.54 in Q2'25 to over 122 in the following two quarters, before more than doubling to its terminal high. This aggressive expansion in the valuation multiple suggests a period of significant price appreciation relative to sales performance in the most recent fiscal periods.