Cipher Digital Inc.'s Shares Rise 31.8% Amid Execution Uncertainty
Cipher Digital Inc.'s (NASDAQ:CIFR) shares rose 31.8% over the week, despite ending Friday at $23.15 after a 10.3% drop that session.
The company's market capitalization is approximately $9.38 billion, with trading volume reaching 21.18 million shares on Friday, down from Tuesday's 47.45 million.
A Morgan Stanley report issued fresh research in July, reiterating an overweight rating and setting a base target of $47, while the bull case was set at $76.50, based on access to the power grid rather than bitcoin production.
Cipher states it has secured contracts for 700 megawatts of HPC capacity and has a development pipeline totaling 3.3 gigawatts, with management estimating contracted revenue at $11.4 billion and average yearly net operating income of about $787 million between October 2026 and September 2036.