Cipher Mining (US:CIFR) ZACKS·2025-07-23 17:51Industry Overview - Cryptocurrencies are driven by blockchain technology, which provides a secure and decentralized database for transactions [2] - Recent positive developments include the repeal of an accounting rule by the SEC and the passing of the GENIUS Act, which provides a legal framework for stablecoins [3] - The liberal policies of the Trump administration, including an executive order to study cryptocurrency regulations, have positively impacted the industry [4] Cryptocurrency Performance - Bitcoin has seen significant price fluctuations, trading between $53,997.96 and $119,963.30 over the past year, with a recent decrease of 0.7% [5] - Other cryptocurrencies like Ethereum, Solana, Cardano, Dogecoin, and XRP have experienced notable increases in value, with gains of 15.9%, 18%, 14.7%, 27%, and 16.6% respectively over the past week [5] Company Highlights - Robinhood is benefiting from increased retail market participation, which is expected to drive trading revenues [7] - The company has launched various new products, including tokenized stocks in the EU and additional cryptocurrencies on its platform, expanding its offerings to 19 cryptocurrencies [8] Mining Companies - Cipher Mining is expanding its operations with a new 300-megawatt data center in Wink, TX, and plans for a 500-megawatt expansion by 2029 [10][11] - IREN Limited has achieved a 326% year-over-year growth in hashrate and reported a 24% increase in Bitcoin mining revenues to $141.2 million in the third quarter of fiscal 2025 [13][14] - IREN mined 1,514 Bitcoins in the third quarter, up from 1,347 in the previous quarter, and is also seeing growth in AI Cloud services revenues, which increased by 33% year over year [15][16]