Movement Alert｜Cipher Mining Rises 5.02% in Regular Trading, AI Infrastructure Transformation and Institutional Upgrades Continue to Drive Momentum

Market Focus06-03 21:38

On June 3, Cipher Mining rose 5.02% in regular trading, trading at $27.66/share, with trading volume of $119 million. The stock has extended its recent upward momentum as institutional support and the companys strategic pivot toward AI infrastructure continue to attract investor interest.

On the news front, Morgan Stanley recently raised its target price for Cipher Mining from $40.50 to $42.50, maintaining an Outperform rating, noting that the company is successfully transforming from a Bitcoin miner into an AI infrastructure provider. Jefferies also assigned a Buy rating with a $32 target price. The company has signed approximately $11.4 billion in long-term data center lease contracts with investment-grade cloud providers, covering 700MW of HPC capacity over 10-to-15-year base terms. While Q1 results showed a net loss of $114 million and a 28.84% revenue decline as mining income contracted, the shift to fixed long-term contract revenue is expected to reduce volatility tied to cryptocurrency prices.

Within the Application Software sector, peer IREN Ltd rose 3.54%, while Palantir Technologies fell 3.93% and Salesforce fell 3.39%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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