Cipher Mining Inc. (NASDAQ:CIFR) soared to a new all-time high on Friday, reaching $8.10 before closing at $7.64, up by 8.83%. The surge was fueled by growing interest in Bitcoin, with positive developments in the sector like increased adoption and regulatory clarity in the US market.

In other news, V3 Holding Ltd., a major shareholder of Cipher Mining Inc. (NASDAQ:CIFR), sold shares worth $8.3 million between August 26 and 27. Despite the sale, the firm still holds 89.7 million shares in CIFR. The company also reported a tripled net loss in the second quarter to $45.78 million.

Looking ahead, Cipher Mining Inc. (NASDAQ:CIFR) expressed optimism about its growth outlook, with hashing at its Black Pearl Phase 1 starting ahead of schedule. The company anticipates full leasing of the site by high-performance computing tenants. While CIFR shows potential as an investment, some AI stocks may offer higher returns with limited downside risk.

Read more at Yahoo Finance: Cipher Mining (CIFR) Climbs to New High on Growing Bitcoin Interest