Cipher Mining Stock Soars 7% After-Hours On Phase 1 Completion Of Mega Mining Data Center

Cipher Mining, Inc. (NASDAQ:CIFR) shares soared in Wednesday's after-hours trading as the Bitcoin (CRYPTO: BTC) mining firm confirmed the completion of the first phase of its ambitious Black Pearl data center.

CIFR is poised for a potential breakout. See what is driving the movement here.

CIFR Stock Soars After Operational Milestones

The stock jumped over 7% after the market’s close, extending its double-digit rally from the regular trading session.

Cipher confirmed that Phase I of its Black Pearl facility in Texas is complete, delivering 10.1 exahashes per second of self-mining hashrate. The company achieved an operating hashrate of 23.6 EH/s.

Additionally, it reported mining approximately 251 BTC in September, including 19 BTC produced through joint-venture data centers.

Cipher, having a market capitalization of $6.89 billion, builds and operates industrial-scale data centers for BTC mining and high-performance computing activities.

Price Action: At the time of writing, BTC was exchanging hands at $122,038.50, up 0.33% in the last 24 hours, according to data from Benzinga Pro.

Shares of Cipher rallied 7.16% in after-hours trading after closing 11.75% higher at $17.60 during Wednesday’s regular trading session. The stock has skyrocketed nearly 280% in 2025.

CIFR demonstrated a very high Momentum score as of this writing. Want to know how it compares to larger Bitcoin mining companies such as MARA Holdings Inc. (NASDAQ:MARA)? Visit Benzinga Edge Stock Rankings.