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We recently published Market Shockers: 10 Stocks Collapse by Double Digits. Cipher Mining Inc. (NASDAQ:CIFR) is one of the best performers on Wednesday.
Cipher Mining dropped it share prices by 10.87 percent on Wednesday to close at $16.11 apiece as investor sentiment was primarily dragged by an overall market pessimism due to renewed trade tensions between the US and China.
Cipher Mining Inc. (NASDAQ:CIFR) fell in tandem with its Bitcoin mining peers, namely CleanSpark, BitFarms, and Hut 8 Corp., after the cryptocurrency dropped to the $107,000 territory during the day.
The overall market sentiment was dampened by a report by Reuters that President Donald Trump was keen on imposing retaliatory export curbs to China of products made with US software, impacting a broad range of goods including laptops and jet engines, among others.
Trump’s decision followed Beijing’s newly imposed policy earlier this month that sought to curb exports of rare earth products, with foreign entities now required to obtain export licenses.
In other news, Cipher Mining Inc. (NASDAQ:CIFR) announced that it would release the results of its third quarter earnings performance before market open on November 3, 2025.
Earlier this month, Cipher Mining Inc. (NASDAQ:CIFR) said that it was able to produce 251 Bitcoins for the whole month of September, marking an increase of 10 units from 241 in August, thanks to a higher self-operating hash rate of 23.6 EH/s versus 23 EH/s.
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.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
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