Crypto
Rothschild Redburn Sets Neutral Rating on Cipher Mining with $18 Target
Rothschild Redburn has initiated coverage on Cipher Mining Inc. with a Neutral rating and set a price target of $18.00.
The stock currently trades at $18.34, up 17.3% over the past week, according to InvestingPro analysis.
Cipher Mining is a U.S. company founded in 2021 as a spin-out backed by Bitfury Group, which provides Bitcoin mining infrastructure and blockchain technology.
The firm values Cipher Mining using a discounted cash flow approach with a 22% cost of equity and 6% cost of debt, stating that unit economics and pipeline conversion risks are well priced in.