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Cipher

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Northern

<a href="https://ultramining.com/news/en/cipher-mining-thrives-eyes-increased-market-share/" rel="noopener noreferrer nofollow">Cipher</a> Mining Inc. is considering a potential sale following takeover interest due to the high demand for <a href="https://ultramining.com/news/en/crypto-miners-shift-gears-ai-is-the-new-gold-rush/" rel="noopener noreferrer nofollow">data centers</a>. With a market value of about $2.2 billion, the US-based company is working with advisers to evaluate potential buyers. On Wednesday, Cipher's shares rose by 18%, highlighting market excitement, according to <a href="https://www.bloomberg.com/news/articles/2024-07-17/bitcoin-miner-cipher-mulls-sale-amid-takeover-interest" rel="noopener noreferrer nofollow">Bloomberg</a>.
The artificial intelligence boom has created a shortage of data-center space. Consequently, AI firms are targeting crypto-mining companies, which already have the required infrastructure. This trend has led to significant moves in the industry. Last month, cloud computing provider CoreWeave Inc. offered to acquire Bitcoin miner <a href="https://ultramining.com/news/en/bitcoin-mining-giant-core-scientific-prepares-for-post-bankruptcy-comeback/" rel="noopener noreferrer nofollow">Core Scientific</a> Inc. for approximately $1 billion. Additionally, Northern Data AG, a crypto miner-turned high-performance computing provider, is considering a US listing with a potential valuation of up to $16 billion.
Cipher, which went public in 2021 through a merger with Good Works Acquisition Corp., is still in the early stages of deliberation. There is no certainty that Cipher will decide to pursue a sale. However, this development underscores the growing intersection between the cryptocurrency and AI sectors, driven by the increasing need for advanced computing resources.

Crypto Miner Cipher Receives Takeover Interest, Shares Soar 18%

Ultramining_Eng

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