Crypto mining stock Cipher Mining Inc (NASDAQ:CIFR) is up 33% at $24.82, despite missing third-quarter earnings and revenue estimates, on news of a $5.5 billion, 15-year lease agreement with Amazon.com (AMZN). Cipher will provide space and power for AI workloads to Amazon Web Services (AWS), with the 300 megawatts of computing capacity to be delivered next year.
Today's pop has CIFR trading at record highs after gapping past the $22 level, which rejected two October rallies. Up 314% in just the last three months, the equity now sports a 425% lead in 2025.
Options traders are chiming in, with 222,000 calls and 80,000 puts exchanged so far -- three times the options volume typically seen at this point. The weekly 11/7 21.50-strike call is the most popular, followed by the weekly 11/7 18-strike put, with new positions opening at the 23-strike put in the same weekly series.
Analysts have yet to make any adjustments on CIFR today, though the stock saw a slew of price-target hikes last month. Of the 13 analysts in coverage, 10 carry a "buy" or better rating, with three a "hold," while the 12-month consensus price target of $20.57 now sits at a 5% discount to current levels.
