Cipher Mining Stock Is Up Over 6% In Wednesday's Pre-Market: What's Going On?

Cipher Mining, Inc. CIFR shares rose in Wednesday's pre-market session as the company scales up its Bitcoin BTC/USD mining operations. What happened: Cipher's Black Pearl facility in Texas commenced operations last week with an initial hashrate of 2.5 exahashes per second (EH/s), with Phase I projected to reach 9.6 EH/s. The company aims to achieve a total hashrate of 23.1 EH/s by the third quarter. Cipher said it started mining Bitcoin at the site "ahead of schedule." Last month, analysts from Cantor Fitzg ...