Summary:
- Cipher Mining's Black Pearl site achieves self-mining capacity of 3.4 EH/s, beating forecasts.
- Shares surge 7.6% in premarket trading as future capacity aims for ~23.1 EH/s.
- Analysts project a 39.89% upside potential for Cipher Mining Inc's stock.
Cipher Mining Inc (CIFR, Financial) has made impressive strides in its mining operations, particularly with its Black Pearl site, which is now reaching approximately 3.4 exahash per second (EH/s) in self-mining capacity. This achievement has surpassed the company's initial forecast of 2.5 EH/s for the second quarter of 2025. On the back of this positive news, shares experienced a 7.6% increase in premarket trading. Looking ahead, Cipher Mining anticipates expanding its total capacity significantly to around 23.1 EH/s, marking a substantial milestone for the firm's growth trajectory.
Wall Street Analysts' Forecast
Investment analysts are optimistic about Cipher Mining Inc (CIFR, Financial), with 11 analysts providing a one-year average target price of $6.85. Their estimates range from a high of $9.00 to a low of $5.50. This average target indicates a potential upside of 39.89% from the current trading price of $4.90. Investors can access more in-depth data by visiting the Cipher Mining Inc (CIFR) Forecast page.
The consensus among 11 brokerage firms awards Cipher Mining Inc a favorable average recommendation of 1.9. This "Outperform" rating is based on a scale from 1 to 5, where 1 reflects a "Strong Buy" and 5 suggests a "Sell." This endorsement from analysts underscores the positive sentiment surrounding Cipher Mining's strategic direction and future potential.
