Stock Track | Cipher Mining Surges Over 31% as Tech Stocks Rally, Bitcoin Booms

Stock Track11-07

Shares of Cipher Mining Inc. (CIFR) soared 31.48% on Wednesday, closing at $6.68, amid a broad rally in tech stocks and semiconductors. The surge was fueled by the company's increased Bitcoin mining output and speculation around pro-crypto policies under a potential Trump administration.

The crypto mining firm reported mining 168 bitcoins in October, up from 155 in September. Cipher Mining sold 248 bitcoins last month, leaving it with a total of 1,428 bitcoins in its reserves. This improved production likely boosted investor confidence in the company's growth prospects, driving up its stock price.

Adding fuel to the rally, Bitcoin itself hit a record high on Wednesday, briefly surpassing $75,000 as President-elect Donald Trump's embrace of cryptocurrency fueled optimism about easing regulations and mainstream adoption. Crypto-related stocks like Cipher Mining benefited from this bullish sentiment, with investors betting on a potential Trump administration creating a favorable environment for the industry.

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(CIFR) soared 31.48% on Wednesday, closing at $6.68, amid a broad rally in tech stocks and semiconductors. The surge was fueled by the company's increased Bitcoin mining ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CIFR","symbol_name":"Cipher Mining Inc.","start_time":0,"source_url":"","article_id":"1176013939","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1176013939","pubTimestamp":1730936424,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Cipher Mining Inc.  soared 31.48% on Wednesday, closing at $6.68, amid a broad rally in tech stocks and semiconductors. 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