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Investing.com - Rosenblatt Securities raised its price target on Cipher Mining (NASDAQ:CIFR) to $14.00 from its previous target while maintaining a Buy rating on the stock. According to InvestingPro data, analyst targets for CIFR range from $7 to $24, with the stock currently trading at $11.47.
The price target increase follows Cipher Mining’s first high-performance computing (HPC) contract, which Rosenblatt describes as a "transformation transaction" for the company, which has evolved from a Bitcoin miner to an HPC hosting provider.
Rosenblatt noted that despite CIFR stock selling off nearly 20% in post-deal trading last week, the firm believes this reaction was more related to the concurrent convertible capital raise rather than the details of the deal itself. This recent decline comes despite the stock’s impressive 394% gain over the past six months, as tracked by InvestingPro.
The 168 MW lease agreement with Fluidstack and Google "cements CIFR’s status as a key HPC hosting provider" during a period of accelerating AI-related power demand against limited supply, according to Rosenblatt’s analysis.
The research firm’s new price target is based on 15 times its 2027 Adjusted EBITDA estimate for Cipher Mining, with Rosenblatt expecting more contracts in the coming months, citing the company’s 2.4 GW power pipeline and "significantly-improved financial profile." InvestingPro analysis shows analysts expect the company to become profitable this year, with revenue growth forecast at 73%. Get access to 15+ additional ProTips and comprehensive financial metrics with an InvestingPro subscription.
In other recent news, Cipher Mining Inc. announced the pricing of $1.1 billion in convertible senior notes due 2031, an increase from the previously planned $800 million. The zero-interest notes are set to mature on October 1, 2031, with settlement expected by September 30, 2025. Additionally, Google is set to acquire a stake in Cipher Mining through warrants for approximately 24 million shares as part of a 10-year AI hosting agreement with Fluidstack. This agreement includes Google’s commitment to backstop $1.4 billion of Fluidstack’s lease obligations. In August 2025, Cipher Mining reported mining 241 bitcoin, with its Black Pearl Phase I facility contributing to 39% of the production. The company sold 42 bitcoin for treasury management, concluding the month with 1,414 bitcoin. Meanwhile, Canaccord Genuity raised its price target for Cipher Mining to $13, maintaining a Buy rating due to the potential of the Barber Lake facility. The firm highlighted the facility’s efficiency and low power costs as factors for its profitability.
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