Cipher Mining Inc. (CIFR) soared on Wednesday, hitting a new high as investor sentiment remains positive due to AI prospects and increased Bitcoin production. The company produced 251 Bitcoins in September, up from 241 in August, and sold 158 units during the same period, taking advantage of rising Bitcoin prices.

Cipher Mining recently completed its Black Pearl mining facility in Texas, supporting high-performance computing (HPC) operations for AI firms and Bitcoin production. The company also secured a 10-year HPC hosting deal with Fluidstack, expected to generate $3 billion in revenues, potentially increasing to $7 billion with Google’s financial backing.

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Read more at Yahoo Finance: Cipher Mining (CIFR) Jumps on 6th Day, Hits New High on AI Prospects, Bitcoin Production