In the latest market close, Cipher Mining Inc. (CIFR) reached $4.50, with a +1.58% movement compared to the previous day. The stock outpaced the S&P 500's daily gain of 1.02%. On the other hand, the Dow registered a gain of 0.4%, and the technology-centric Nasdaq increased by 2.03%.The company's shares have seen a decrease of 13.98% over the last month, not keeping up with the Business Services sector's loss of 5.04% and the S&P 500's loss of 3.15%.The investment community will be paying close attention to ...

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?Let's take a look at what these Wall Street heavyweights have to say about Cipher Mining Inc. (CIFR) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.Cipher Mining currently has an a ...

The most recent trading session ended with Cipher Mining Inc. (CIFR) standing at $3.42, reflecting a +1.79% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily loss of 0.58%. At the same time, the Dow lost 0.12%, and the tech-heavy Nasdaq lost 1.15%.Heading into today, shares of the company had lost 18.05% over the past month, lagging the Business Services sector's loss of 4.36% and the S&P 500's loss of 1.09% in that time.The investment community will be pay ...

The most undervalued blockchain stocks to buy in April are for those who think outside the box. Most investors know the big names already, but these hidden gems can offer significant upside potential, especially in the current market environment. The next Bitcoin (BTC-USD) halving event, scheduled for near the middle of this month, is highly anticipated in the crypto world. Historically, Bitcoin’s price has rallied in the months leading up to and following a halving event.These most undervalued blockchain s ...

With the benchmark cryptocurrency recently setting an all-time high, it was inevitable that interest in space holistically skyrocketed, thus boding well for so-called blockchain stocks. Basically, these are enterprises that either mine cryptos or facilitate their acquisition. Fundamentally, they offer an alternative path to decentralized riches.But what on Earth would you want to buy blockchain stocks when you can buy cryptos instead? As with anything in life, there are pros and cons. Regarding the risks of ...

Cipher Mining Inc. (NASDAQ:CIFR) Q4 2023 Earnings Conference Call March 5, 2024 8:00 AM ET Company Participants Josh Kane - Head of Investor Relations Tyler Page - Chief Executive Officer Ed Farrell - Chief Financial Officer Conference Call Participants John Todaro - Needham & Company Reginald Smith - JPMorgan Joseph Vafi - Canaccord Genuity Gregory Lewis - BTIG Josh Siegler - Cantor Fitzgerald Bill Papanastasiou - Stifel Joe Flynn - Compass Point Research Mike Colonnese - H.C. Wainwright Operator Good morn ...

Fourth Quarter GAAP Earnings of $10.6m and Non-GAAP Earnings of $27.8m Full Year 2023 Revenues of $126.8m Increased Hash Rate to 7.4 EH/s in First Quarter 2024 and on track to reach 9.3 EH/s by end of Third Quarter 2024, with potential to grow to 25 EH/s by the end of 2025 NEW YORK, March 05, 2024 (GLOBE NEWSWIRE) -- Cipher Mining Inc. (NASDAQ:CIFR) ("Cipher" or the "Company") today announced results for its fourth quarter and full year ended December 31, 2023, with an update on its operations and deployme ...

If a fork occurs on a digital asset network which we hold or are mining, such as bitcoin, it may have a negative effect on the value of the digital asset and could have a material adverse effect on our business, prospects, financial condition, and operating results. The development and acceptance of cryptographic and algorithmic protocols governing the issuance of and transactions in cryptocurrencies is subject to a variety of factors that are dif icult to evaluate. 43 • changes in consumer demographics and ...

[Cipher Mining 2023 Fourth Quarter and Full Year Business Update](index=1&type=section&id=Cipher%20Mining%202023%20Fourth%20Quarter%20and%20Full%20Year%20Business%20Update) [Business Highlights and Expansion Plans](index=1&type=section&id=Business%20Highlights%20and%20Expansion%20Plans) The company achieved record Q4 2023 results and is aggressively expanding its hash rate capacity Key Financial Metrics | Metric | Q4 2023 | Full Year 2023 | | :--- | :--- | :--- | | GAAP Earnings | $10.6 million | - | | Non-GAAP Earnings | $27.8 million | - | | Revenues | - | $126.8 million | - Q4 2023 was the company's first full quarter with all four data centers operating at full capacity, leading to **record revenues and net profits**[1](index=1&type=chunk)[2](index=2&type=chunk) - Cipher is expanding its hash rate with a clear growth trajectory[7](index=7&type=chunk)[8](index=8&type=chunk): - **Q1 2024:** Increased to 7.4 EH/s - **Q3 2024:** On track to reach 9.3 EH/s via expansions at Bear and Chief data centers - **H1 2025:** Expected to exceed 16 EH/s with the first phase of the Black Pearl data center - **End of 2025:** Potential to grow to 25 EH/s upon full completion of Black Pearl - The company acquired the **300 MW Black Pearl facility** and has commenced construction, with partial energization expected in Q2 2025[2](index=2&type=chunk) [Financial Statements](index=4&type=section&id=Financial%20Statements) Financials show significant operational scaling with surging revenue and asset growth in 2023 [Consolidated Balance Sheets](index=4&type=section&id=CONSOLIDATED%20BALANCE%20SHEETS) The balance sheet strengthened with total assets growing to $566.1 million, driven by cash and equipment Balance Sheet Summary | Balance Sheet Item (in thousands) | Dec 31, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | **Cash and cash equivalents** | $86,105 | $11,927 | | **Bitcoin** | $32,978 | $6,283 | | **Total current assets** | $155,498 | $47,735 | | **Property and equipment, net** | $243,815 | $191,188 | | **Total assets** | $566,137 | $418,463 | | **Total liabilities** | $74,801 | $75,571 | | **Total stockholders' equity** | $491,336 | $342,892 | [Consolidated Statements of Operations](index=6&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20OPERATIONS) Bitcoin mining revenue surged to $126.8 million in 2023, leading to a reduced net loss Operations Summary | Income Statement Item (in thousands) | Year Ended Dec 31, 2023 | Year Ended Dec 31, 2022 | | :--- | :--- | :--- | | **Revenue - bitcoin mining** | $126,842 | $3,037 | | **Cost of revenue** | $50,309 | $748 | | **Operating loss** | ($20,115) | ($37,421) | | **Net loss** | ($25,777) | ($39,053) | | **Net loss per share** | ($0.10) | ($0.16) | [Consolidated Statement of Cash Flows](index=8&type=section&id=CONSOLIDATED%20STATEMENT%20OF%20CASH%20FLOWS) Strong financing activities drove a net cash increase of $74.2 million, boosting year-end cash reserves Cash Flow Summary | Cash Flow Activity (in thousands) | Year Ended Dec 31, 2023 | Year Ended Dec 31, 2022 | | :--- | :--- | :--- | | Net cash used in operating activities | ($94,241) | ($20,915) | | Net cash provided by (used in) investing activities | $52,755 | ($173,909) | | Net cash provided by (used in) financing activities | $115,664 | ($3,090) | | **Net increase (decrease) in cash** | **$74,178** | **($197,914)** | | **Cash and cash equivalents, end of period** | **$86,105** | **$11,927** | [Non-GAAP Financial Measures](index=11&type=section&id=Non-GAAP%20Financial%20Measures) Non-GAAP Adjusted Earnings reached $46.2 million in 2023, reversing a significant loss from 2022 Reconciliation to Adjusted Earnings | Reconciliation to Adjusted Earnings (in thousands) | Year Ended Dec 31, 2023 | Year Ended Dec 31, 2022 | | :--- | :--- | :--- | | **Net loss (GAAP)** | **($25,777)** | **($39,053)** | | Change in fair value of derivative asset | ($26,836) | ($73,479) | | Share-based compensation expense | $38,470 | $41,504 | | Depreciation and amortization | $59,093 | $4,378 | | Deferred income tax expense | $3,366 | $1,840 | | Other gains - nonrecurring | ($2,355) | - | | Change in fair value of warrant liability | $243 | ($130) | | **Adjusted earnings (Non-GAAP)** | **$46,204** | **($64,940)** | - The reconciliation from GAAP Net Loss to Non-GAAP Adjusted Earnings primarily involves adjusting for significant non-cash expenses and income, including depreciation, share-based compensation, and fair value changes of financial instruments[24](index=24&type=chunk)

NEW YORK, March 01, 2024 (GLOBE NEWSWIRE) -- Cipher Mining Inc. (NASDAQ:CIFR) ("Cipher" or the "Company") today released its unaudited production and operations update for February 2024. Key Highlights Key MetricsFebruary 2024*BTC Mined334Power Sales Equivalent BTC12BTC Sold33BTC Held1,433Deployed Mining Rigs70,000Month End Operating Hash Rate (EH/s)7.4 *Approximate values Bitcoin Production and Operations Updates for February 2024Cipher produced ~334 BTC in February amidst average monthly network hash rate ...