Cipher

United

Solana

DeFi

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 <p class="paragraph">Despite significant steps in the acceptance of cryptocurrency and <a rel="noopener noreferrer nofollow" title="blockchain" href="https://thebittimes.com/tag/blockchain.html">blockchain</a> technology in the world of mainstream finance, investors are still somewhat reluctant to invest in <a rel="noopener noreferrer nofollow" title="stock" href="https://thebittimes.com/tag/stock.html">stock</a>s in this domain. However, this <a rel="noopener noreferrer nofollow" title="blockchain" href="https://thebittimes.com/tag/blockchain.html">blockchain</a> <a rel="noopener noreferrer nofollow" title="stock" href="https://thebittimes.com/tag/stock.html">stock</a> is <a rel="noopener noreferrer nofollow" title="quietly" href="https://thebittimes.com/tag/quietly.html">quietly</a> <a rel="noopener noreferrer nofollow" title="outperforming" href="https://thebittimes.com/tag/outperforming.html">outperforming</a> the <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> and, therefore, many first-choice investing assets.</p>
 <p class="paragraph">The blockchain stock currently beating the market is <strong>Cipher Mining </strong>(NASDAQ: CIFR), a technology company devoted to industrial-scale Bitcoin (BTC) mining data centers located throughout the United States. Although it was incorporated as recently as 2020, its stock value is somewhat volatile but steadily increasing, achieving a price hike of <strong>100%</strong>.</p>
 <h2 class="wp-block-heading" id="h-about-cipher-mining">About Cipher Mining</h2>
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     <div class="marker:text-black !list-disc !font-sans !my-0 !gap-y-2 text-base"><strong>Cipher Mining, Inc. </strong>(NASDAQ: <strong>CIFR</strong>) is an American technology company dedicated to expanding and enhancing critical Bitcoin <a rel="noopener noreferrer nofollow" title="blockchain" href="https://thebittimes.com/tag/blockchain.html">blockchain</a> infrastructure with industrial-scare Bitcoin mining data centers.
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 <p class="paragraph">Founded in 2020 and based in New York, Cipher Mining operates four Bitcoin mining rigs in Texas. The first is the Odessa Facility, powered by 207 megawatts and capable of producing around 4.2 exahash per second. Next is the Alborz Facility near Happy, Texas, then the Bear Facility near Andrews, Texas, and finally the Chief Facility, also near Andrews, Texas.&nbsp;</p>
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 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="529" src="https://cdn.thebittimes.com/images/2024/03/01/b0de79b7405fcf194bdb566924cadfc4.webp" alt="The blockchain stock that's quietly outperforming the market: Cipher Mining homepage screenshot." class="wp-image-158069" srcset="https://cdn.thebittimes.com/images/2024/03/01/b0de79b7405fcf194bdb566924cadfc4.webp 1024w, https://cdn.thebittimes.com/images/2024/03/01/b0de79b7405fcf194bdb566924cadfc4.webp 300w, https://cdn.thebittimes.com/images/2024/03/01/b0de79b7405fcf194bdb566924cadfc4.webp 768w, https://cdn.thebittimes.com/images/2024/03/01/b0de79b7405fcf194bdb566924cadfc4.webp 1536w, https://cdn.thebittimes.com/images/2024/03/01/b0de79b7405fcf194bdb566924cadfc4.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Cipher Mining homepage screenshot. Source: ciphermining.com
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 <p class="paragraph">Cipher Mining is a subsidiary of Bitfury Holding B.V. with a mission to promote the Bitcoin blockchain and reinforce its network and infrastructure capacities. As a vocal proponent of cryptocurrency, the company is advocating for a global digital, open-source network for transactions and data transmission. To further this goal, Cipher Mining leverages expertise from multiple fields, including technology, fintech, energy, finance, and crypto.</p>
 <p class="paragraph"><strong>Cipher Mining trades on the NASDAQ stock exchange under the CIFR ticker symbol.</strong>&nbsp;</p>
 <h2 class="wp-block-heading" id="h-cipher-mining-stock-price-today">Cipher Mining stock price today</h2>
 <p class="paragraph">At the moment of writing, Cipher Mining <a rel="noopener noreferrer nofollow" title="stock" href="https://thebittimes.com/tag/stock.html">stock</a> price stands at $2.96, reflecting a notable increase of $1.5 or 103% year-to-date.</p>
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 <h2 class="wp-block-heading" id="h-cipher-mining-stock-price-history">Cipher Mining stock price history</h2>
 <p class="paragraph">Having launched in 2020, Cipher Mining is still operating at a loss. Moreover, the company’s loss has increased from last year, from $39 million in the last financial year to the latest trailing-twelve-month loss of $89 million. However, the company has stated and provided sufficient indicators, that 2024 will be the last year they report a net income loss and projected a $120 million profit for 2025.</p>
 <p class="paragraph">On top of that, the company is operating without debt, relying solely on shareholder funding, which should secure its cash flow. Its financial indicators rank above many of its competitors in the DeFi technologies sector, and in general, the <a rel="noopener noreferrer nofollow" title="stock" href="https://thebittimes.com/tag/stock.html">stock</a> is poised for further <a rel="noopener noreferrer nofollow" title="growth" href="https://thebittimes.com/tag/growth.html">growth</a>, which is stoking investors’ interest and affecting CIFR <a rel="noopener noreferrer nofollow" title="stock" href="https://thebittimes.com/tag/stock.html">stock</a> price.</p>
 <h2 class="wp-block-heading" id="h-bitcoin-performance">Bitcoin performance</h2>
 <p class="paragraph">As Cipher Mining operates within the Bitcoin blockchain, its financial performance and stock price depend on the value of Bitcoin. The good news is that since the beginning of 2024, the year has witnessed positive developments, including a surge that started on February 26 and is still going on as of March 1, 2024. The price hike saw Bitcoin’s price go above $60,000 for the first time since 2021.</p>
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 <p class="paragraph">The trend did not stagger even when the Coinbase (NASDAQ: COIN) crypto exchange faltered under pressure from the sudden surge of interest from crypto investors on February 28. Although the possibility of a price correction in the near future remains plausible, Bitcoin will likely end up better than it did at the end of 2023.&nbsp;</p>
 <h2 class="wp-block-heading" id="h-looking-forward-what-is-the-price-prediction-for-cifr-stock">Looking forward: What is the price prediction for CIFR stock?</h2>
 <p class="paragraph">Although cryptocurrency and blockchain remain highly volatile sectors, Cipher Mining’s sound management and solid trajectory have seen it poised for profit and further growth. Although Cipher Mining lies in the shadow of more noticeable blockchain stocks, investors are starting to give positive CIFR price prediction and see the worth of this quiet market outperformer.&nbsp;</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/explosive-growth-uncovered-the-blockchain-stock-that-s-quietly-outperforming-the-market-tbt81277.html">https://thebittimes.com/explosive-growth-uncovered-the-blockchain-stock-that-s-quietly-outperforming-the-market-tbt81277.html</a></p>

Explosive growth uncovered: The blockchain stock that’s quietly outperforming the market

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