Core Viewpoint - Cipher Mining Inc. is set to provide a business update and release its fourth quarter and full year 2024 financial results on February 25, 2025, before U.S. markets open [1]. Company Overview - Cipher Mining focuses on the development and operation of industrial-scale data centers for bitcoin mining and high-performance computing (HPC) hosting [3]. - The company aims to be a market leader in innovation, particularly in bitcoin mining growth, data center construction, and as a hosting partner for major HPC companies [3].

Core Insights - Cipher Mining Inc. reported its unaudited production and operations update for January 2025, highlighting its ongoing efforts in bitcoin mining and data center development [1] Production and Operations Summary - The company mined approximately 219 BTC in January 2025 and sold around 471 BTC, ending the month with a total of approximately 1,091 BTC held [2][4] - Cipher deployed 75,000 mining rigs, achieving a month-end operating hashrate of 13.5 EH/s and a fleet efficiency of 18.9 J/TH [2] - The estimated power sales for January were equivalent to 1 BTC, based on a month-end bitcoin price of $102,297, along with 29 BTC mined at joint venture data centers [2][11] Management Commentary - Cipher is making progress at its Black Pearl site, nearing completion of Phase 1 buildings that cover over 100,000 square feet, and is in discussions with potential tenants and financing partners [3] Company Overview - Cipher focuses on developing and operating industrial-scale data centers for bitcoin mining and high-performance computing (HPC) hosting, aiming to be a market leader in innovation and growth within the sector [5]

Investment Announcement - SoftBank Group Corp. is set to invest $50 million in Cipher Mining Inc. through a PIPE investment, acquiring approximately 10.4 million shares of Cipher common stock [1] - This investment will bolster Cipher's HPC data center development business and position SoftBank as a significant primary investor in the company [1] Company Growth and Strategy - Cipher's CEO, Tyler Page, expressed enthusiasm about SoftBank's investment, highlighting its importance during a pivotal growth phase for the company [2] - Cipher is focused on developing and operating industrial-scale data centers for bitcoin mining and HPC hosting, aiming to lead in innovation within these sectors [4] Advisory and Legal Support - Keefe, Bruyette, & Woods Inc. served as the financial advisor for Cipher, while Latham & Watkins LLP provided legal counsel [3]

Company Performance - Cipher Mining Inc. closed at $4.49, down 0.44% from the previous trading session, underperforming the S&P 500 which gained 0.92% [1] - The company's shares have decreased by 3.22% over the past month, lagging behind the Business Services sector's gain of 2.44% and the S&P 500's gain of 0.81% [1] Earnings Projections - The upcoming earnings disclosure for Cipher Mining Inc. is anticipated, with projected earnings per share (EPS) at -$0.10, indicating a 300% decrease from the same quarter last year [2] - Quarterly revenue is estimated to be $37.52 million, reflecting a decline of 13.6% compared to the year-ago period [2] Analyst Estimates - Recent adjustments to analyst estimates for Cipher Mining Inc. are noteworthy, as they often reflect changes in short-term business dynamics [3] - Positive revisions in estimates are interpreted as favorable indicators for the company's business outlook [3] Zacks Rank and Industry Performance - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), currently places Cipher Mining Inc. at a 5 (Strong Sell) rating, with no changes in the consensus EPS estimate over the last 30 days [5] - The Technology Services industry, part of the Business Services sector, holds a Zacks Industry Rank of 87, placing it in the top 35% of over 250 industries [6] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [6]

Core Insights - Cipher Mining Inc. reported its unaudited production and operations update for December 2024, highlighting significant metrics in bitcoin mining and operational efficiency [1][2]. Production Metrics - The company mined approximately 234 BTC in December 2024 and sold around 271 BTC, ending the month with a total of approximately 1,344 BTC held [2][5]. - The total number of deployed mining rigs reached 75,000, contributing to a month-end operating hashrate of 13.5 EH/s and a fleet efficiency of 18.9 J/TH [2][3]. Operational Developments - Cipher completed the upgrade of its mining fleet at Odessa, enhancing its self-mining hashrate to approximately 13.5 EH/s [3]. - The company made substantial progress on the development of the new Black Pearl data center, indicating ongoing expansion efforts in its infrastructure [3][9]. Power Management - Cipher utilized advanced data center operations technologies to maintain power supply during periods of curtailment by its power provider, managing to continue hashing for about 80 hours despite the provider using 20% of its annual curtailment hours in December [4]. Financial Overview - The estimated power sales for December were equivalent to 2 BTC, based on the month-end bitcoin price of $93,349, and included approximately 345 BTC pledged as collateral [2][11].

Core Viewpoint - The article discusses the reliability of brokerage recommendations, particularly focusing on Cipher Mining Inc. (CIFR), and highlights the disparity between brokerage ratings and actual stock performance [1][4]. Group 1: Brokerage Recommendations - Cipher Mining has an average brokerage recommendation (ABR) of 1.20, indicating a consensus between Strong Buy and Buy, with 80% of recommendations being Strong Buy and 20% being Buy [2]. - Despite the positive ABR, relying solely on this information for investment decisions may not be advisable, as studies show brokerage recommendations often fail to guide investors effectively [4][9]. Group 2: Analyst Bias and Zacks Rank - Brokerage analysts tend to exhibit a positive bias due to their firms' vested interests, leading to a higher number of favorable ratings compared to negative ones [5][9]. - The Zacks Rank, a proprietary stock rating tool, categorizes stocks based on earnings estimate revisions and has a strong track record in predicting stock price movements, contrasting with the ABR [7][10]. Group 3: Earnings Estimates and Investment Outlook - The Zacks Consensus Estimate for Cipher Mining has declined by 72.2% over the past month to -$0.31, indicating growing pessimism among analysts regarding the company's earnings prospects [12]. - This significant decline in earnings estimates has resulted in a Zacks Rank of 5 (Strong Sell) for Cipher Mining, suggesting caution despite the favorable ABR [13].

Core Insights - Cipher Mining Inc. released its unaudited production and operations update for November 2024, highlighting significant metrics in bitcoin mining and operational developments [1] Group 1: Key Metrics - The company mined approximately 202 BTC in November 2024 and sold around 234 BTC, ending the month with a total of approximately 1,383 BTC held [2][4] - Cipher deployed 76,000 mining rigs, achieving a month-end operating hash rate of 12.0 EH/s and a fleet efficiency of 20.8 J/TH [2] Group 2: Operational Developments - The company is upgrading its mining fleet at the Odessa site and developing the new Black Pearl data center, with expectations to complete the Odessa upgrade by year-end [2][3] - The acquisition of the 100 MW Stingray site was completed in November, which is expected to energize in 2026, adding to Cipher's portfolio of over 2.6 GW of potential power capacity across 11 sites [3] Group 3: Management Commentary - CEO Tyler Page emphasized the efficiency improvements expected from the Odessa upgrade and the ongoing development of the Black Pearl data center, which is on track for energization by the end of Q2 2025 [2]

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?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 ...

Cipher Mining (NASDAQ:CIFR) Q3 2024 Earnings Conference Call October 31, 2024 8:00 AM ET Company Participants Joshua Kane - Head, IR Tyler Page - CEO Ed Farrell - CFO Conference Call Participants Mike Grondahl - Northland Paul Golding - Macquarie Mike Colonnese - H.C. Wainwright. Bill Papanastasiou - Stifel John Todaro - Needham & Co. Reggie Smith - JPMorgan Greg Lewis - BTIG Operator Good day and thank you for standing by. Welcome to the Cipher Mining Third Quarter 2024 Business Update Conference Call. At ...

Cipher Mining Inc. (CIFR) came out with a quarterly loss of $0.26 per share versus the Zacks Consensus Estimate of a loss of $0.08. This compares to loss of $0.07 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -225%. A quarter ago, it was expected that this company would post a loss of $0.05 per share when it actually produced a loss of $0.05, delivering no surprise.Over the last four quarters, the company has surpassed conse ...