Crypto
Cipher Mining Stock Jumps on Analyst Upgrade and Grid Capacity Boost
Cipher Mining's stock price surged 10.8% following an analyst upgrade from Wells Fargo, which assigned an Overweight rating and a $25 price target to the company.
The boost comes after ERCOT granted 3.2 gigawatts of conditional grid capacity to support Cipher's Bitcoin mining projects in Texas, enhancing its operational potential.
Institutional investors like Engineers Gate Manager LP are increasing their stakes, signaling strong confidence in Cipher Mining's growth prospects and crypto mining infrastructure.