Why Cipher Mining Stock Rocketed 12% Higher on Wednesday

Two new and glowing analyst takes on the future of Cipher Mining (NASDAQ: CIFR) were the news items that pushed the company's stock well higher on Wednesday. The Bitcoin miner's share price ballooned by more than 12% during the session, a far better performance than the S&P 500 index's 0.2% slump on the day.The pair of fresh takes came on the back of news that Cipher Mining had closed its latest facility acquisition. This was for a property in Barber Lake, Texas that will bolster its mining efforts. The company is ponying up $67.5 million in cash, plus $3 per MWh for a period of five years after the energization of the facility. In the original press release trumpeting the purchase, Cipher Mining CEO Tyler Page said that its new property is "ideally suited for either hosting a large [high-performing computing] customer or mining Bitcoin."Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool