In the latest period of Q4'25, CIFR's Gross Margin stood at 59.4%, reflecting a moderate decline from 62.7% in Q3'25 but remaining above the yearly average. Operating Margin deteriorated sharply to -468.6%, marking a significant worsening from -52.5% in the prior quarter amid rising operational costs. Net Profit Margin plunged to -1,229.6%, the lowest point in the series, down from a near-breakeven -4.6% in Q3'25, highlighting intensified profitability pressures. Over the period from Q1'23 to Q4'25, Gross Margin exhibited volatility with an overall stable trend around 50-70%, peaking at 69.4% in Q4'23 and Q1'25 before softening in recent quarters due to potential cost fluctuations. Operating Margin shifted from consistent losses averaging -50% in early 2023 to brief positivity in Q4'23 (1.5%) and Q1'24 (81.9%), but trended downward with deepening negatives reaching -181.4% in Q3'24 and escalating further in 2025. Net Profit Margin followed a similar volatile pattern, improving to highs of 82.9% in Q1'24 before sharp declines, including a -359.9% trough in Q3'24, underscoring cyclical challenges in sustaining net profitability amid operational inefficiencies.