Cipher

Shares of <a href="https://ultramining.com/news/en/cipher-mining-thrives-eyes-increased-market-share/">Cipher</a> Mining, a company specializing in bitcoin mining, climbed approximately 12% following positive analyst coverage and the announcement of a new 300 MW data center site in West <a href="https://ultramining.com/news/en/texas-residents-challenge-bitcoin-mining-industrys-impact-on-power-grid-and-communities/">Texas</a>. With this acquisition, Cipher Mining's portfolio expanded to over 2.5 GW across 10 sites. 
Investment bank Macquarie assigned the company's stock an 'outperform' rating, setting a price target of $6. At the time of publication, Cipher Mining shares (ticker CIFR) were trading around $3.86. Analysts anticipate that the company will achieve significant profit and scale growth in the near future. 
The optimistic forecasts are linked to Cipher Mining's expansion plans and its shift from crypto-specific operations to AI and high-performance computing infrastructure. This reflects a broader industry trend toward diversification and leveraging the growing demand for computing power.

Cipher Mining Shares Surge 12% After Positive Analyst Coverage and New Data Center Announcement

Ultramining_Eng

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