Why Bitcoin Mining Stock Cipher Mining Is Surging Today

Cipher Mining Inc CIFR is trading significantly higher Wednesday amid a sharp increase in the price of Bitcoin BTC/USD

Bitcoin climbed above $65,000 to new all-time highs amid the debut of the first ever Bitcoin futures ETF.

Last week, Cipher Mining announced plans to make monthly purchases through December 2022 of 4,000 to 8,000 next-generation mining rigs.

According to data from Benzinga Pro, Wednesday's session volume was approaching 7 million at time of publication.

Cipher Mining is an industrial-scale Bitcoin mining company in the United States. It is dedicated to expanding and strengthening the Bitcoin network's critical infrastructure in the United States.

CIFR Price Action: Cipher Mining traded as high as $9.52 and as low as $7.46 during Wednesday's session.

The stock was up 16.80% at $8.70 at time of publication.

Photo: Ricardo Goncalves from Pixabay.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: CryptocurrencyEarningsNewsMarketswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!