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Investing.com - Macquarie has raised its price target on Cipher Mining (NASDAQ:CIFR) to $8.00 from $6.00 while maintaining an Outperform rating, despite the company’s second-quarter revenue miss. Currently trading at $4.88 with a market capitalization of $1.81 billion, InvestingPro data suggests the stock is slightly undervalued, with analyst targets ranging from $6 to $9.
Cipher Mining reported second-quarter revenue of $43.6 million, falling short of FactSet consensus estimates of $50.6 million and Macquarie’s estimate of $64.2 million. The company posted an operating loss of $45.8 million, worse than consensus and Macquarie estimates of $17.6 million and $20.9 million losses, respectively. InvestingPro analysis shows the company’s gross profit margin stands at 18.14%, with total revenue reaching $152.09M in the last twelve months.
The bitcoin mining company ended the second quarter with 16.8 EH/s of mining capacity, exceeding its guidance of 16 EH/s, and remains on track to reach 23.5 EH/s by the end of the third quarter. Cipher Mining also confirmed its treasury discipline with a HODL balance of approximately 1,100 bitcoin at the end of the second quarter, up from about 1,000 bitcoin at the end of the first quarter.
Macquarie highlighted Cipher’s portfolio expansion, noting that Black Pearl is on track to exceed prior guidance by the third quarter. The company’s first convertible raise has fully funded new Canaan A15 Pro miners for Black Pearl, with the balance being filled from existing inventory.
Cipher Mining is implementing a new strategy for Black Pearl Phase II that positions the facility for both bitcoin mining and high-performance computing applications. Management expects Black Pearl to be fully leased by HPC tenants in the longer term, while the Barber Lake site is seeing advanced discussions with potential AI tenants. According to InvestingPro, analysts anticipate strong sales growth this year, with 10+ additional exclusive insights available to subscribers through the comprehensive Pro Research Report, which provides deep-dive analysis of CIFR and 1,400+ other US stocks.
In other recent news, Cipher Mining Inc. reported its second-quarter results for 2025, which fell short of market expectations. The company announced an earnings per share (EPS) of -$0.12, missing the forecasted -$0.0776. Revenue was reported at $43.57 million, which was below the anticipated $51.18 million. These figures highlight a challenging quarter for Cipher Mining. The missed earnings and revenue forecasts are notable developments for investors. The company’s financial performance will be closely monitored in the coming quarters. Analyst firms may adjust their outlooks based on these results.
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