Cipher Stock Surged 5% As Google-Backed AI Deal Raises Price Target To $16
Posted On September 29, 2025
Cipher Mining Inc. (NASDAQ: CIFR) traded near $12.10 on Monday, up more than 5%, after Canaccord Genuity (NASDAQ: CF) raised its price target to $16 citing the company’s pivot into artificial intelligence infrastructure.
From Bitcoin Mines To Data Giants
Cipher signed a hosting agreement with Fluidstack, backed by Google (NASDAQ: GOOGL) to expand its Barber Lake facility into a large-scale compute hub.
The move places the company among miners diversifying into data center infrastructure, according to Canaccord’s report.
Analysts led by Joseph Vafi said the deal was earlier and stronger than anticipated, underscoring firm demand for capacity.
The announcement came amid a wave of hyperscaler contracts, easing concerns that supply would outpace demand.
$1.1B Note Offering Secures Ownership
Cipher priced a $1.1 …
About The Author
