Cipher Mining (CIFR) Soars to All-Time High, Rides Nebius-Microsoft Deal Boom

We recently published 10 Stocks With Eye-Popping Gains — 1 Surges 3,000%. Cipher Mining Inc. (NASDAQ:CIFR) is one of the top performers on Tuesday.

Cipher Mining rallied to a new record high on Tuesday, mirroring its counterparts and tracking an overall optimism for the high-performance computing (HPC) sector.

During the session, Cipher Mining Inc. (NASDAQ:CIFR) surged to its highest 52-week price of $9.36 before paring gains to end the day just up by 19.43 percent at $9.22 apiece.

This followed Nebius Group’s announcement that it bagged a new $18 billion cloud computing deal with Microsoft Corp., sparking investor optimism that spilled over to its stock.

Cipher Mining Inc. (NASDAQ:CIFR) also jumped alongside its counterparts, namely IREN Ltd., TeraWulf Inc., Riot Platforms, and Hut 8 Corp., following the news.

Cipher Mining Inc. (NASDAQ:CIFR) is focused on the development and operation of industrial-scale data centers for bitcoin mining and HPC hosting. At present, the company is underway with the expansion of its Black Pearl sites to support the growing demand in HPC from both AI and hydro-Bitcoin mining.

“In the long run, we expect this site to be fully leased by HPC tenants. By taking this approach to building infrastructure today, we will be prepared to sign tenants when they are ready, while also preserving our flexibility to use the space for bitcoin mining in the near term, if preferred. In short, Black Pearl Phase II infrastructure will enable us to monetize access to power quickly, whether via HPC tenants or bitcoin mining,” said CEO Tyler Page.

While we acknowledge the potential of CIFR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.