tiprankstipranks
Cipher Mining Expands Data Centers Despite Losses
Company Announcements

Cipher Mining Expands Data Centers Despite Losses

Don't Miss our Black Friday Offers:

The latest update is out from Cipher Mining ( (CIFR) ).

Cipher Mining reported its third-quarter 2024 results, highlighting significant developments in its data center acquisitions and expansion strategy. The company acquired the Barber Lake and Reveille sites, with a combined potential of 500 MW for HPC and bitcoin mining operations. Despite a net loss of $87 million, Cipher continues to enhance its operations, including site upgrades and new site options in Texas, aiming to become a leading data center developer. The company remains optimistic about future growth amid challenging market conditions, focusing on cost-efficient operations.

For a thorough assessment of CIFR stock, go to TipRanks’ Stock Analysis page.

Related Articles
TheFlyUnusually active option classes on open November 20th
TheFlyCrypto Currents: Coinbase acquires Utopia Labs team
TheFlyCipher Mining price target raised to $9 from $6 at BTIG
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App