Cipher Mining Inc. (NASDAQ: CIFR) shares had a sharp rise during Thursday’s extended trading session, closing at $5.72 after climbing 21.70%. One of the most potent investment holding companies in the world, SoftBank Group, reported a significant investment in the company, which caused this jump.
Boosting Innovation and Strategic Growth
SoftBank has contributed $50 million in Private Investment in Public Equity (PIPE) to Cipher’s high-performance computing, or HPC, data center construction. The investment makes SoftBank a major CIFR investor at a critical juncture in the expansion of the company.
Cipher’s industrial-scale data center projects have earned company notoriety, and SoftBank’s dedication to developing artificial intelligence and technology complements Cipher’s long-term goals. It is anticipated that this strategic support would strengthen CIFR’s position as a leader in the HPC data center industry and hasten its expansion.
Strength in Finance and Improvements in Operations
Cipher demonstrates strong financial valuation within the Financial – Capital Market industry, as indicated on the ST screener. Investors can explore similar-rated peer stocks through our ST screener link.
In December, Cipher’s operations and construction teams completed an extensive upgrade to the mining fleet at its Odessa facility while making notable progress on the Black Pearl data center development. The Odessa upgrade has positioned CIFR with an impressive 13.5 exahashes per second (EH/s) of self-mining capacity, utilizing one of the most efficient mining fleets in the industry at approximately 18.9 joules per terahash (J/TH).
Resilient Bitcoin Production and Treasury Management
Leveraging cutting-edge data center technologies, Cipher managed to draw power from the grid even when its power provider exercised curtailment options. Despite nearly 20% of annual curtailment hours being utilized in December, CIFR successfully continued mining operations during approximately 80 otherwise curtailed hours.
The company reported producing 2,341 BTC during the month and, as part of its treasury management strategy, sold 271 BTC, concluding December with a Bitcoin balance of 13,442 BTC.