Why Crypto Mining Stocks Blasted Higher This Week [Yahoo! Finance]
Cipher Mining Inc. (CIFR)
Company Research
Source: Yahoo! Finance
That was the dynamic this week, as the Great Crypto Rally of 2024 powered full steam ahead, and miners came along for the ride. According to data from S&P Global Market Intelligence CleanSpark (NASDAQ: CLSK) rose by nearly 9% over that stretch of time, Cipher Mining (NASDAQ: CIFR) advanced by almost 12%, and Hut 8 (NASDAQ: HUT) had quite the trajectory with a gain of just under 27%. The halving should boost Bitcoin demand We're getting very close to the latest halving of Bitcoin (CRYPTO: BTC) . For those unfamiliar, a halving is an event in which the rewards for mining a cryptocurrency are, yes, cut in half. The main goal of a halving is to reduce the supply of a coin or token, especially in the case of Bitcoin, whose supply will eventually be capped at 21 million coins. A halving occurs with the coin every time 210,000 blocks, representing sets of transactions, are created. Specifically, miners will receive 3.125 Bitcoin for every new block on the chain they complete, down f
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CIFR
News
- Cipher Mining Inc. (NASDAQ: CIFR) had its price target raised by analysts at HC Wainwright from $4.50 to $5.50. They now have a "buy" rating on the stock.MarketBeat
- NewtekOne, eHealth among financial movers [Seeking Alpha]Seeking Alpha
- Cipher Mining Provides First Quarter 2024 Business UpdateGlobeNewswire
- Adeia (ADEA) Q1 Earnings Beat Estimates [Yahoo! Finance]Yahoo! Finance
- Should You Buy Cipher Mining (CIFR) Ahead of Q1 Earnings? [Yahoo! Finance]Yahoo! Finance
CIFR
Earnings
- 5/7/24 - Beat
CIFR
Sec Filings
- 5/7/24 - Form 10-Q
- 5/7/24 - Form 8-K
- 5/6/24 - Form 4
- CIFR's page on the SEC website