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Cipher Mining Inc. (NASDAQ:CIFR), a finance services company specializing in crypto assets with a market capitalization of $1.54 billion, announced the results of its 2025 Annual Meeting of Stockholders held on Monday. According to InvestingPro data, the company’s stock has shown significant volatility, with analysts setting price targets between $6 and $9. The meeting saw a significant turnout with approximately 71.38% of the outstanding common stock represented.
During the Annual Meeting, stockholders elected two directors to serve until the 2028 annual meeting. Robert Flatley received 216,700,126 votes for, 2,361,414 withheld, and 45,894,567 broker non-votes. Caitlin Long received 177,472,642 votes for, 41,588,898 withheld, and 45,894,567 broker non-votes. This comes as InvestingPro analysis indicates positive momentum for the company, with expectations of net income growth and a return to profitability in 2025.
Additionally, the appointment of CBIZ (NYSE:CBZ) CPAs P.C. as the company’s independent registered public accounting firm for the year ending December 31, 2025, was ratified with 262,729,678 votes for, 802,833 against, and 1,423,596 abstained.
The compensation paid to the company’s named executive officers was approved on a non-binding advisory basis with 157,212,425 votes for, 60,642,805 against, 1,206,310 abstained, and 45,894,567 broker non-votes.
Lastly, stockholders approved, on a non-binding advisory basis, the frequency of future advisory votes on executive compensation to be held every year with 209,203,808 votes for one year, 208,447 for two years, 9,253,331 for three years, 395,954 abstained, and 45,894,567 broker non-votes.
Cipher Mining, headquartered in New York, NY, operates under the organization name 09 Crypto Assets and was formerly known as Good Works Acquisition Corp. before changing its name on August 3, 2020. The company’s fiscal year ends on December 31. With revenue growth forecast at 76% for 2025, InvestingPro offers comprehensive analysis through its Pro Research Report, providing detailed insights into the company’s growth trajectory and market position among 1,400+ top US stocks.
The information provided is based on Cipher Mining Inc.’s recent SEC filing.
In other recent news, Cipher Mining Inc. reported an unexpected earnings beat for Q1 2025, with adjusted earnings per share of $0.02, contrary to the anticipated loss of $0.07 per share. The company achieved $49 million in revenue, although it fell short of the expected $53.34 million. Cipher Mining’s hashrate reached 13.5 exahashes per second by the end of May, with plans to increase this capacity to approximately 23.1 EH/s by July with the arrival of new mining rigs. In a strategic move, Cipher Mining announced a $150 million convertible notes offering, managed by Morgan Stanley (NYSE:MS), to fund its Black Pearl data center project. Cantor Fitzgerald raised its stock price target for Cipher Mining to $6, maintaining an Overweight rating, citing the company’s growth prospects and low power costs. H.C. Wainwright also reaffirmed a Buy rating with a $6.75 price target, highlighting Cipher’s joint venture with Fortress for HPC/AI data centers. These developments reflect Cipher Mining’s ongoing efforts to expand and optimize its operations in the competitive bitcoin mining and data center sectors.
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