Cipher Mining Inc. (CIFR) surged 11.04% to $6.94 on Tuesday, riding the Bitcoin wave. Q2 results are eagerly awaited, set to be released on August 7. Bitcoin prices are up by 2.17%, reaching nearly $120,000, as more financial institutions begin embracing cryptocurrency products.

Cipher Mining reported mining 160 Bitcoins last month, selling 58 and acquiring 1,063 in total. Operational hash rate stands at 16.8 EH/s, with plans to increase it to 23.1 EH/S in Q3. CIFR holds promise as an investment, but some AI stocks may offer higher returns with less risk.

Read more at Yahoo Finance: Cipher Mining (CIFR) Jumps Alongside Bitcoin Ahead of Q2 Results