Cipher Mining stock jumped 16% due to strong progress at new mining facility

Cipher Mining (NASDAQ:CIFR) saw a 16% jump in trading after announcing strong progress at its new mining facility, Black Pearl. The site’s hash rate exceeded expectations, with 160 bitcoins mined in June. However, financials show losses and a price-to-sales ratio of 11.6. Consider the Trefis High Quality portfolio for lower volatility.

Despite recent gains, Cipher Mining’s financials remain weak with an operating loss of $129 million and a net loss of $124 million over the last four quarters. While revenues have stayed flat, profitability is deeply negative. CIFR stock has underperformed the S&P 500 during market downturns, falling 97.2% during the inflation shock of 2022.

Cipher Mining stock has yet to recover from past market crashes, making it a risky investment. Consider the Trefis Reinforced Value Portfolio for better returns, as it has outperformed the benchmark indices. The RV Portfolio provides a responsive mix of large, mid, and small-cap stocks to capitalize on market conditions and limit losses during downturns.

Invest with Trefis Market-Beating Portfolios for better returns and explore all Trefis Price Estimates for informed investment decisions. Consider the risks associated with Cipher Mining stock, which has shown weak financial performance and high volatility. The Trefis High Quality portfolio and RV Portfolio offer alternatives for better investment opportunities.

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