Cipher Mining Inc (NASDAQ:CIFR) is one of the 13 Crypto Stocks with the Highest Upside Potential. In a report released on June 4, Brett Knoblauch from Cantor Fitzgerald reiterated a Buy rating on Cipher Mining Inc (NASDAQ:CIFR), raising the price target to $6 from $4.
The analyst told investors in a research note that Cipher Mining Inc (NASDAQ:CIFR) mined 179 Bitcoin in May, which translates to 5.8 Bitcoin per day.
A close-up of a laptop with a Bitcoin ecosystem monitor running in the background.
The firm estimated that the company generated around $18.5 million in mining revenue in May, contending that Cipher Mining Inc (NASDAQ:CIFR) is on the path to becoming one of the fastest-growing miners by hash rate capacity this year.
Cipher Mining Inc. (NASDAQ:CIFR) develops and operates bitcoin mining data centers. It operates four bitcoin mining data centers in Texas through its subsidiaries, including Cipher Mining Technologies Inc. The company specializes in industrial-scale Bitcoin mining and is dedicated to enhancing and fortifying the critical infrastructure of the Bitcoin network in the US.
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