Cipher Mining Inc. (CIFR) soared 5.16% in intraday trading on Wednesday, reflecting a broader rally in cryptocurrency-related stocks.
The surge follows the U.S. announcement of an indefinite ceasefire extension with Iran, which has eased geopolitical tensions and boosted investor appetite for risk assets, including cryptocurrencies and mining companies. Crypto stocks, including Cipher Mining, rallied in overnight trading as the news broke.
The ceasefire extension is seen as a positive development for global markets, reducing uncertainty and supporting speculative assets like crypto equities.
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