Cipher Mining (CIFR) stock may have dropped 33.26% from its peak, but it’s not slowing down. The company signed a 10-year HPC lease agreement with Fluidstack, expanding it to bring in $830 million in revenue over 10 years, potentially reaching $9 billion. Google (GOOG) increased its backstop for Fluidstack’s lease obligations by $333 million. Cipher’s Q3 performance saw Bitcoin mining revenue triple and adjusted EPS of $0.10. Analysts are bullish on CIFR, with a “Strong Buy” consensus and price targets up to $30, pointing to a 30.8% upside from current levels.

In Q3, Cipher Mining’s revenue nearly tripled, and it self-mined 689 bitcoins, up 35% from the previous quarter. The company’s adjusted EPS improved to $0.10, and it ended the quarter with $1.2 billion in cash. A $5.5 billion lease deal with Amazon Web Services and a partnership with Fluidstack and Google signal a shift towards high-performance computing. Analysts are optimistic, with price targets up to $30 and a consensus “Strong Buy” rating. Wall Street is betting big on Cipher Mining, expecting significant upside potential.

Read more at Barchart: Down 42% From Its 52-Week High, Should You Buy the Dip in Cipher Mining Stock?