Cipher Mining (CIFR) Stock Skyrockets 300%: AI Cloud Deal and Bitcoin Boom Explained
Cipher Mining shares hit a record $20.34 on Oct. 13, up 19.9% that day, with a market cap near $8 billion and year-to-date gains of 320%. The company signed a 10-year, $3 billion AI hosting deal with Fluidstack backed by Google and raised up to $1.3 billion via convertible notes. CFO Edward Farrell will retire in October 2025, succeeded by Greg Mumford. Cipher operates major Bitcoin mines in Texas and is expanding into AI data centers.