NEW YORK, Aug. 02, 2024 (GLOBE NEWSWIRE) -- Cipher Mining Inc. (NASDAQ:CIFR) ("Cipher" or the "Company") today released its unaudited production and operations update for July 2024. Key Highlights | --- | --- | |--------------------------------------|-----------| | | | | Key Metrics | July 2024 | | BTC Mined1 | 178 | | BTC Sold | 108 | | BTC Held | 2,270 | | Deployed Mining Rigs | 75,000 | | Month End Operating Hash Rate (EH/s) | 8.7 | 1 Includes July power sales estimates (based on current meter data and n ...

The live webcast and a webcast replay of the conference call can be accessed from the investor relations section of Cipher's website at https://investors.ciphermining.com. To access this conference call by telephone, register here to receive dial-in numbers and a unique PIN to join the call. Contacts: Investor Contact: Josh Kane Head of Investor Relations at Cipher Mining josh.kane@ciphermining.com NEW YORK, July 29, 2024 (GLOBE NEWSWIRE) -- Cipher Mining Inc. (NASDAQ: CIFR) ("Cipher" or the "Company"), a U ...

Bitcoin (BTC) mining stocks are drawing significant attention from investors looking for promising opportunities in the cryptocurrency market. The recent assassination attempt on former President Trump sent shockwaves through the political landscape, driving Bitcoin prices over $64,000 and boosting Bitcoin miner stocks. Earlier this year, these stocks struggled due to investor concerns over declining revenues and rising costs following the launch of spot Bitcoin ETFs in the US and the halving event. However ...

The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Cipher Mining Inc. (CIFR) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Business Services sector should help us answer this question. Within the past quarter, the Zacks Consensus Estima ...

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements. The stock's price increased in response to Bitcoin's price rise over the weekend, following Germany's liquidation of Bitcoin holdings, which alleviated selling pressure on the cryptocurrency. The stock currently carries a Zacks Rank #3 (Hold). You can see the complete li ...

Company Performance - Cipher Mining Inc. is projected to report an EPS of -$0.03, reflecting a 40% increase compared to the same quarter of the previous year [1] - The revenue estimate for Cipher Mining Inc. is $38.85 million, indicating a 24.44% increase compared to the same quarter of the previous year [1] - For the full year, earnings are projected at $0 per share and revenue at $150.64 million, showing changes of +100% and +18.76% respectively from the previous year [3] Stock Performance - Cipher Mining Inc. closed at $4.36, with a -1.58% change from the previous day's closing price, underperforming the S&P 500's daily loss of 0.88% [2] - The stock has decreased by 3.06% over the past month, contrasting with the Business Services sector's gain of 0.29% and the S&P 500's gain of 5.11% [8] Analyst Insights - Recent changes to analyst estimates for Cipher Mining Inc. reflect shifting business dynamics, with positive revisions indicating analyst optimism about the company's profitability [3] - Cipher Mining Inc. currently holds a Zacks Rank of 3 (Hold), which suggests a neutral outlook based on historical performance metrics [4] Industry Context - The Technology Services industry, part of the Business Services sector, has a Zacks Industry Rank of 92, placing it in the top 37% of over 250 industries [9]

1 Includes June power sales estimates (based on current meter data and nodal prices) equivalent to 6 bitcoin (using month-end bitcoin price of $63,370) 1 Includes June power sales estimates (based on current meter data and nodal prices) equivalent to 6 bitcoin (using month-end bitcoin price of $63,370) Management Commentary for June "At Bear we have now received and installed all the new mining rigs, and we expect to finish installing the remainder of the new mining rigs at Chief later this month," said Tyl ...

NEW YORK, July 02, 2024 (GLOBE NEWSWIRE) -- Cipher Mining Inc. (NASDAQ:CIFR) ("Cipher" or the "Company") today released its unaudited production and operations update for June 2024. Key Highlights | --- | --- | |--------------------------------------|-----------| | | | | Key Metrics | June 2024 | | BTC Mined1 | 176 | | BTC Sold | 103 | | BTC Held | 2,209 | | Deployed Mining Rigs | 75,000 | | Month End Operating Hash Rate (EH/s) | 8.6 | 1 Includes June power sales estimates (based on current meter data and n ...

The the stock of company has risen by 11.44% in the past month, leading the Business Services sector's gain of 0.6% and the S&P 500's gain of 3.53%. The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 100% increase. Cipher Mining Inc. is currently a Zacks Rank #3 (Hold ...

Group 1: Bitcoin Market Dynamics - Bitcoin experienced significant price movement, with a notable rise attributed to over two weeks of daily inflows into Bitcoin exchange-traded funds (ETFs) [5][9] - The approval of Bitcoin and Ethereum ETFs has led to billions of dollars flowing into the crypto market, driving up values [9] - Bitcoin's recent performance has been influenced by economic indicators, including a strong jobs report and OPEC's decision to maintain oil production cuts, which suggested economic weakness [10][11] Group 2: Company Performance - Coinbase Global's shares rose by as much as 16.5% for the week, benefiting from higher Bitcoin prices and its diversified revenue streams [7] - MicroStrategy's stock increased by up to 12.7%, reflecting its leveraged position in Bitcoin [3][7] - Cipher Mining's shares rose 23.2%, with the company holding 2,142 Bitcoins, indicating a direct correlation between Bitcoin's price rise and its revenue potential [3][7] Group 3: Future Considerations - The impact of Bitcoin's rise on companies like Coinbase, MicroStrategy, and Cipher Mining is positive, as they will generate more revenue with increasing Bitcoin prices [14] - There are concerns about the sustainability of this growth if funds flow out of ETFs or if an economic downturn occurs, as Bitcoin has historically dropped during such conditions [15]