Market value
$6.57bn
Equity capitalization
Cipher Digital Shares Drop 8% at U.S. Market Open Despite Bitcoin Gains, as AI Strategy Faces Valuation Scrutiny
NEW YORK, August 21, 2026, 11:26 EDT — Shares in Cipher Digital fell 8% at the start of U.S. trading, despite a rally in Bitcoin, as investors evaluated the company's shift toward artificial intelligence against its current valuation.
NASDAQ:CIFR · investor dashboard
Cipher Digital
The market is separating Cipher’s AI-data-center buildout from its legacy bitcoin exposure. Delivery and rent now matter more than the coin.
$15.84
▼ 7.96%
August 21, 2026 · 11:26:16 EDT (UTC−04:00)
U.S. market open
U.S. market open
Live volume
29.6m
1.03× three-month daily average
Contracted revenue
≈$11.4bn
Long-dated backlog, not current sales
Debt principal
$6.02bn
About 92% of equity value
Where the stock sits
Intraday peer split
Data-center transition riskCrypto beta held up better
Q2 transition bill
Revenue$24.84m
Net loss$267.5m
Interest expense$66.7m
Cash$831.8m
Interest expense was 2.7× quarterly revenue.
What is contracted
HPC capacity700 MW
Portfolio≈5.3 GW
Backlog / market cap1.7×
Run-rate P/S proxy≈66×
The proxy annualizes Q2 revenue and is preliminary, not guidance.
Analyst setup
Latest low target$22
Six-action average$29.50
Latest high target$35
RatingsBuy / Outperform
JPMorgan and KBW cut targets after Q2.
Delivery clock
Black PearlRent began
August 2026
August 2026
Barber Lake ITarget
Sept. 30, 2026
Sept. 30, 2026
Barber Lake IITarget
Jan. 31, 2027
Jan. 31, 2027
StingrayPhased Amazon delivery
during 2026
during 2026
Investor read
The key question is no longer whether Cipher can sign leases. It is whether contracted megawatts become visible rent before leverage and dilution erode the upside.
Recommendation snapshot
| Firm | Date | View | Target | Upside |
|---|---|---|---|---|
| Citizens | Aug. 10 | Buy | $30 | 89% |
| JPMorgan | Aug. 7 | Overweight | $22 | 39% |
| KBW | Aug. 6 | Outperform | $28 | 77% |
| Macquarie | Aug. 5 | Outperform | $35 | 121% |
Sources: Cipher Digital Q2 2026 business update and Form 10-Q; Yahoo Finance U.S. most-active screener; Reuters; published analyst-action trackers. Market data are intraday and may change. Price, volume and peer moves are as of August 21, 2026, 11:26:16 EDT (UTC−04:00). This dashboard is informational and not investment advice.
Cipher Digital Shares Drop 13% Amid $1 Billion Loss in Value, Challenging $11.4 Billion Backlog
Cipher Digital Inc. saw its market capitalization drop by close to $1 billion on Tuesday after its stock declined $2.405, or 13.0%, to finish at $16.095. Trading volume hit 53.1 million shares—almost double the usual amount. The most recent premarket quote, as of 04:06 EDT on Wednesday, stood at $16.38.
NASDAQ:CIFR · Investor dashboard
Cipher Digital
HPC buildout vs funding durationU.S. regular close: Aug. 18, 2026, 16:00:01 EDT
Premarket quote: Aug. 19, 2026, 04:06 EDT
Premarket quote: Aug. 19, 2026, 04:06 EDT
Regular close
$16.095
Nasdaq real-time price
Daily move
-13.00%
-$2.405 per share
Value erased
≈$998m
Change × 415.03m shares
Premarket
$16.38
+1.77% at 04:06 EDT
Sector reset · August 18 close
CIFR volume: 53.14m, or 1.89× its three-month daily average.
Contract scale vs equity value
Equity market value$6.68bn
Contracted lease revenue$11.4bn
Market cap / backlog0.59×
Backlog is long-dated revenue, not cash or profit.
Q2 operating bridge
Revenue$24.84m · -43% YoY
Revenue vs consensus-23.6%
Net loss$267.5m
Adjusted EBITDA-$30.0m
Cash$831.8m
Restricted cash$3.19bn
Recent analyst recommendations · target vs $16.095 close
JPMorgan · OW
$22
KBW · Outperform
$28
Rosenblatt · Buy
$30
Chardan · Buy
$32
Macquarie · OP
$35
18-analyst consensus: Buy; average target $26, implying 61.5% upside. Targets are opinions, not guarantees.
Cipher Digital Shares Rise 7.4% Following Morgan Stanley’s 6.3% Stake Disclosure
Cipher Digital Inc. rose 7.4% to $17.855 on Friday, with 36.24 million shares changing hands. U.S. stock markets are shut over the weekend.
IREN (NASDAQ:IREN) Recovers, Gaining About $1.2 Billion Market Value Following Mirantis Deal Completion
IREN Limited gained roughly $1.22 billion in equity value on Friday, following an 8.7% rise just three days after completing its acquisition of Mirantis.
Cipher Digital (NASDAQ:CIFR) Drops 23% as $11.4 Billion HPC Lease Book Faces Investor Scrutiny
Cipher Digital Inc. ended trading on Friday at $17.18, marking a 5.7% decline for the session. The stock was down 23.0% compared to the previous Friday, and it also registered a 28.9% decrease from Monday’s closing price. Trading volume totaled 45.2 million shares, 1.66 times higher than its 65-day average.
Cipher Digital (NASDAQ:CIFR) falls 23% as market weighs gap ahead of AI rental ramp-up
Cipher Digital ended a turbulent earnings week at $17.18, down 23.0% from the previous Friday, even after gaining 8.2% on Monday.
Cipher Digital (NASDAQ:CIFR) Shares Drop Amid Restricted Cash Issues Affecting Data-Center Appraisal
Cipher Digital stock declined 4.5% on Friday as three analysts cut their price targets after the company's second-quarter report. Shares were at $17.39 as of 10:53 EDT. Trading volume hit 15.4 million shares, and the company's market capitalization was close to $7.13 billion.
Cipher Digital Inc. (NASDAQ:CIFR) falls 15.7% after Q2 earnings miss raises questions about restricted cash
Cipher Digital dropped 15.7% on Tuesday after reporting Q2 revenue and earnings below expectations. Premarket trading, which was delayed, saw the stock rebound 0.6% to $20.50. U.S. regular trading hours had not resumed.
Cipher Digital (NASDAQ:CIFR) Shares Fall 10% as Q2 Crypto Mining Decline Challenges HPC Strategy
Cipher Digital stock dropped 10.2% in early U.S. trading. The shares rebounded 7.4% from their session low but continued to underperform their rivals.
TeraWulf gains nearly 7% after Anthropic lease highlights 27% boost in revenue density
TeraWulf Inc. climbed roughly 7% on Monday after B. Riley Securities raised its price target to $40 from $32. Analyst Nick Giles maintained a Buy recommendation. The U.S. cash session had just ended, with consolidated closing data still being finalized.
Cipher Digital falls 13% alongside AI data center stocks; bitcoin trades flat
Cipher Digital Inc. ended Wednesday's session at $17.69, falling 13.4%. The drop wiped approximately $1.1 billion from its market capitalisation based on initial estimates. Trading volume was 39.7 million shares, about 1.55 times the recent average.
Cipher Mining Shares (NASDAQ:CIFR) Surge 32% as AI-Driven Valuation Faces Execution Uncertainty
Cipher Digital Inc., previously known as Cipher Mining, surged 31.8% over a turbulent week. Shares finished Friday at $23.15 despite a 10.3% drop that session. U.S. equity markets remained closed on Sunday.
Cipher Digital (NASDAQ:CIFR) Shares Advance Amid AI Capacity Crunch, Leasing Activity Under Spotlight
Cipher Digital Inc. climbed 5.7% to $25.85 in Thursday morning trade. Shares have advanced roughly 44% over the past five sessions.
Cipher Digital shares surge 16% as market bets on future AI leasing earnings ahead of realized revenue
Cipher Digital Inc. surged 15.6% to $23.75 on Tuesday, extending its two-day advance to 35.2%. U.S. cash markets stayed open.
Cipher Digital (NASDAQ:CIFR) Rallies 17% as AI Data-Center Stocks Lead Over Bitcoin
Cipher Digital Inc. climbed 17.0% to reach $20.54 on Monday. U.S. cash markets closed before the dateline. The share price had fallen 20.6% over the previous week.
Cipher Digital stock rebound meets short-cover test as AI data-center forecasts stay wide
Cipher Digital Inc. bounced on Monday, but the sharper investor read was not the 8.4% gain. It was the mix of heavy volume, a large short base and a still-wide forecast spread. The stock ended at $21.73 after trading from $20.54 to $22.58. Volume was 28.30 million shares, about 14% above the 24.85 million average volume shown by Google Finance.
TeraWulf heads into July 6 after shares drop 26% as AI data-center trade falters
TeraWulf Inc is under more pressure than the daily chart suggests. Shares finished down 10.18% at $21.18 on Thursday, the last regular session before the Independence Day break. The stock has now lost 26.4% over seven consecutive losing sessions since closing at $28.78 on June 23. Nasdaq’s holiday calendar for 2026 lists July 3 as a closure for Independence Day observed.
Cipher Digital stock volume jumps as Russell rebalance clouds AI data-center signal
Cipher Digital Inc. rose on Friday even as the broader tech tape weakened, but the real story was volume. The data-center developer closed at $25.94, up 1.0%, after trading between $23.80 and $26.13. The Nasdaq Composite lost 0.24%, and chip stocks fell 5.3%.
Cipher Digital Moves Higher After AI Data Center Investment Draws Attention to CIFR
Cipher Digital Inc. shares jumped Friday, picking up after a volatile week as traders took another look at the company’s AI data center financing plans and demand for infrastructure growth names. CIFR last traded at $24.66, up $2.03 from its previous close, moving between $22.48 and $25.35 during the session, putting the company’s market cap just under $10 billion. The stock climbed as buyers stepped up to pay more on hopes for future returns, while concerns like risk, dilution, higher debt or falling sentiment can pull prices down.
Cipher Digital Shares Jump Close to All-Time High as Wall Street Watches AI Data-Center Push
Cipher Digital Inc. stock climbed roughly 9.5% to $25.21 late Wednesday on Nasdaq, closing in on a new 52-week high. The run came as traders stuck with names linked to power-hungry AI data centers. Volume beat the daily average, pushing Cipher’s market cap to nearly $10.2 billion.
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