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 ...

Crypto overall didn't move much, but Bitcoin had a great week. Bitcoin's reaction MicroStrategy has a leveraged position in Bitcoin so it's not surprising its stock price has exaggerated the move in Bitcoin. Cipher Mining will also see more revenue and higher margins if Bitcoin rises. The company also held 2,142 Bitcoins as of last month. While Bitcoin's bounce has been impressive, I'm more interested in the companies doing something innovative with the blockchain, like Coinbase, which benefits from higher ...

New 2024 year-end self-mining hash rate target of ~13.5 EH/s with fleet efficiency of ~18.6 J/TH New 2025 year-end self-mining hash rate target of ~35 EH/s with fleet efficiency of ~15 J/TH About Cipher Cipher is an emerging technology company focused on the development and operation of bitcoin mining data centers. Cipher is dedicated to expanding and strengthening the Bitcoin network's critical infrastructure. Together with its diversely talented team and strategic partnerships, Cipher aims to be a market ...

New 2024 year-end self-mining hash rate target of ~13.5 EH/s with fleet efficiency of ~18.6 J/TH New 2025 year-end self-mining hash rate target of ~35 EH/s with fleet efficiency of ~15 J/TH Upgraded rigs to S21 Pro and accelerated delivery to 4Q 2024 on existing Bitmain contract Executed additional purchase of ~1.25 EH/s of latest generation Canaan A1566 miners with option to purchase an additional 160 MW of future generation miners in 2025 NEW YORK, June 05, 2024 (GLOBE NEWSWIRE) -- Cipher Mining Inc. (NAS ...

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. Whi ...

AMSTERDAM, May 16, 2024 /PRNewswire/ -- Bitfury Group ("Bitfury" or the "Company"), a leading fullservice blockchain technology company, today announced that it has allocated the remaining part of approximately 18.5 million shares held by Bitfury in Cipher Mining, Inc. (NASDAQ:CIFR) ("Cipher") in accordance with plans that were previously outlined into a share reserve for the benefit of both current and former Bitfury employees, consultants, and advisors (or "Bitfury Beneficiaries") who participate in long ...

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?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Cipher Mining Inc. (CIFR) .Cipher Mining currently has an average ...

Financial Data and Key Metrics - Total assets increased to $250 million as of March 31, up from $156 million at the end of 2023, reflecting a $95 million increase [1] - Cash position remained relatively flat at $88.7 million, slightly up from $86.1 million at the end of 2023 [1] - Bitcoin balance stood at $123.3 million, reflecting 1,730 Bitcoin held in treasury as of March 31, up from 780 Bitcoin valued at $33 million at the end of 2023 [22] - GAAP net income for Q1 2024 was $39.9 million, a 277% sequential increase and a 976% increase from the prior year quarter [72] - Revenues for Q1 2024 were $48.1 million, an 11% sequential increase and a 120% year-over-year increase [73] Business Line Data and Key Metrics - The company mined 924 Bitcoin in Q1 2024, contributing to $48.1 million in revenues [73] - The Odessa facility represents approximately 90% of Bitcoin production, with a five-year fixed-price power purchase agreement and low electricity costs of roughly $0.027 per kilowatt-hour [44][86] - Alborz data center, powered by wind, has mined approximately 168 Bitcoin year-to-date through April 30, with Cipher owning roughly half of the production [87] - Bear and Chief data centers combined operate 20 megawatts, generating approximately 0.7 exahash per second, with expansions expected to quadruple their size [88] Market Data and Key Metrics - The company's self-mining hash rate grew to 7.7 exahash per second as of the end of April [43] - The average all-in electricity cost per Bitcoin produced in Q1 2024 was $11,912 [50] - The company expects to improve rig fleet efficiency from 29 joules per terahash to 22 joules per terahash as expansions at Bear, Chief, and Black Pearl sites are completed [45] Company Strategy and Industry Competition - The company is focused on being a low-cost producer of Bitcoin, leveraging fixed-price power contracts and efficient rig fleets to maintain competitive unit economics [44][79] - Cipher is building out the Black Pearl site, with a total cost forecasted at $420 million, including $200 million for non-rig infrastructure and $220 million for rigs [13][14] - The company is actively managing its Bitcoin treasury, with 2,033 Bitcoin held as of the end of April, and may sell Bitcoin to fund growth initiatives if necessary [19][23] - Cipher is exploring M&A opportunities, particularly in greenfield sites with favorable power arrangements, and is engaged in several ongoing reviews of potential acquisitions [65][134] Management Commentary on Operating Environment and Future Outlook - Management highlighted the anticipated squeeze on miner economics post-halving, with hash price reaching an all-time low of $0.045 per terahash, which is expected to pressure miners with higher costs [34][35] - The company believes that Bitcoin price appreciation will likely follow historical trends post-halving, potentially benefiting miners with tougher economics [10][49] - Cipher is confident in its ability to navigate the post-halving environment due to its low-cost production model and disciplined approach to growth [70][79] Other Important Information - The company has an equity shelf with ample capacity to raise capital if needed, providing flexibility for future growth initiatives [17] - Cipher has a derivative asset related to its Odessa power contract, valued at $101 million as of March 31, reflecting a $7.4 million increase since the end of 2023 [24] - The company has no debt, with a current liquidity position of $213 million as of April 30, comprising $96 million in cash and $117 million worth of Bitcoin [28] Q&A Session Summary Question: Post-halving dynamics and competitor strategies - Management noted that hash price has reached an all-time low post-halving, squeezing miners with higher costs, and expects increased acquisition activity as miners with worse economics struggle [34][35][65] - Cipher is actively reviewing M&A opportunities, particularly in greenfield sites with favorable power arrangements [134] Question: Capital raising and Bitcoin treasury management - The company plans to fund the $420 million Black Pearl project through a combination of cash flow, Bitcoin holdings, and potential equity or debt issuance [16][18] - Cipher maintains an opportunistic approach to Bitcoin sales, balancing growth funding with the goal of increasing its Bitcoin treasury over time [23] Question: Rig pricing and market dynamics - Rig pricing has increased by approximately 15% on a terahash basis, with Cipher's contracted price for T21 rigs at $14 per terahash, below the current market rate [113][128] - The company has optionality in its rig purchase contracts, allowing flexibility to adapt to market conditions [115] Question: AI data centers and power market dynamics - Cipher has been approached about AI-related data center opportunities but remains focused on Bitcoin mining, leveraging its expertise in power management and curtailment [151] - The company sees potential value in its interconnection approvals, which could become increasingly valuable as demand for data center capacity grows [151] Question: M&A strategy and site selection - Cipher is casting a broad net for M&A opportunities, focusing on greenfield sites with favorable power arrangements and potential for operational synergies [134][168] - The company is open to diversifying geographically but remains concentrated in Texas due to its favorable power dynamics and demand response opportunities [179][180]

KEY UPDATES Current 2Q24E 3Q24E 2025 2,033 BTC BTC Held(1) Built to Succeed and Positioned to Win Post-Halving Anticipated Weighted Average Power Price (c/kWh)(1) of Cipher's Portfolio Energized Through Fixed Price Power Current Operating Fleet Efficiency • Full energization on track for Q2 2024 Odessa Timeline Comparison 6 Black Pearl Expansion • Delivering 300 MW of total capacity • Full energization expected in 2025 Bitcoin Mining Business Model 9 (1) At certain sites, Cipher can opportunistically elect ...

34 SIGNATURES CIPHER MINING INC. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Date: May 7, 2024 By: /s/ Tyler Page Tyler Page Chief Executive Officer (Principal Executive Of icer) Date: May 7, 2024 By:/s/ Edward Farrell Edward Farrell Chief Financial Officer (Principal Financial Of icer) 35 Title of each class Trading Symbol(s) Name of each exchange on which registered ...