Cipher Mining (CIFR) exceeds mining capacity targets, stock jumps 15.9%

Cipher Mining Inc. (NASDAQ:CIFR) saw a 15.92% rally, closing at $5.68 after exceeding self-mining capacity guidance for Q2. Black Pearl phase one delivered 3.4 EH/s, surpassing 2.5 EH/s guidance, raising total hash rate to 16.8 EH/s. Expectation to scale to 23.1 EH/s on completion of installation.

Cipher Mining Inc. (NASDAQ:CIFR) mined 160 Bitcoins last month, now owning 1,063 after selling 58. Hash rate set to rise through Q3 with new mining rigs replacing legacy units. Potential investment in CIFR noted, but AI stocks may offer greater returns and less risk.

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Read more at Yahoo Finance: Cipher Mining (CIFR) Skyrockets 15.9% as Mining Capacity Exceeds Targets