Cipher Mining boosts March bitcoin production

NEW YORK - Cipher Mining Inc. (NASDAQ:CIFR), a company specializing in bitcoin mining and hosting for high-performance computing (HPC), has reported significant progress in its operations for March 2025. With a market capitalization of $759 million and annual revenue of $151 million, the company mined approximately 1,210 bitcoins (BTC) and sold around 206 BTC, ending the month with a balance of roughly 21,034 BTC in its treasury. According to InvestingPro analysis, analysts expect both sales and net income growth this year.

During March, Cipher’s operational efficiency was reflected in the deployment of 75,000 mining rigs and an end-of-month operating hashrate of 13.5 exahashes per second (EH/s), with a fleet efficiency of 18.9 joules per terahash (J/TH). While the stock has experienced significant volatility, with a 43% decline over the past six months, the company’s construction of the Black Pearl data center is advancing ahead of schedule, signaling a commitment to expanding its infrastructure.

Cipher’s management highlighted the consistent production throughout March and the strategic value of their pipeline for HPC compute. The company also emphasized its strong belief in the growth potential of the HPC market and its role as a hosting partner for leading HPC companies.

The press release also included forward-looking statements regarding the company’s business model, strategy, data center development, and potential strategic initiatives. However, it cautioned that such statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations.

Cipher Mining, aiming to be a market leader in bitcoin mining growth and data center construction, continues to focus on the development and operation of industrial-scale data centers. For further information on the company’s activities and updates, Cipher maintains a dedicated investor website.

This news article is based on a press release statement from Cipher Mining Inc.

In other recent news, Cipher Mining has been the focus of several analyst reports highlighting its potential and challenges. Clear Street initiated coverage with a Buy rating and a $6 price target, citing the company’s promising growth in Bitcoin mining revenue and potential in high-performance computing (HPC). They noted Cipher Mining’s 300MW site as a significant asset for AI and HPC applications. In contrast, JPMorgan downgraded the stock from Overweight to Neutral, pointing out the need for Cipher Mining to secure additional capital for hashrate expansion and the challenges in matching peers’ growth targets.

Rosenblatt also initiated coverage with a Buy rating, setting a $6.50 price target, and emphasized the company’s potential entry into the HPC business as a key growth catalyst. They remain optimistic about Cipher Mining’s ability to secure a lucrative HPC client deal. Meanwhile, Cantor Fitzgerald adjusted its price target to $7 from $8, maintaining an Overweight rating and highlighting the company’s strategic advancements in the AI and HPC sectors.

Keefe, Bruyette & Woods revised their price target to $8, maintaining an Outperform rating, and praised Cipher Mining’s strategic acquisition of sites for future HPC hosting services. They emphasized the company’s robust power pipeline and its appeal to major investors like SoftBank. These developments reflect varying analyst perspectives on Cipher Mining’s future prospects and strategic positioning in the market.

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