Cipher Mining (CIFR) Jumps to Record High on New $5.5-Billion Deal with Amazon Web Services

We recently published Wall Street Can’t Keep up With These 10 Crushing Stocks; 6 at Fresh Record Highs. Cipher Mining Inc. (NASDAQ:CIFR) is one of the best-performing on Monday.

Cipher Mining jumped to a new all-time high on Monday, as investors cheered its new $5.5 billion high-performance computing (HPC) agreement with Amazon Web Services (AWS) and its impressive earnings performance in the third quarter of the year.

At intra-day trading, the stock jumped to a fresh 52-week high of $25.11 before trimming gains to end the day just up by 22.04 percent at $22.76 apiece.

In an updated report, Cipher Mining Inc. (NASDAQ:CIFR) said it clinched a 15-year lease agreement with AWS for the delivery of some 300 MW of computing capacity starting 2026. The capacity will be delivered in two phases, in July and in the fourth quarter of the year, while the lease contract would commence in August 2026.

Meanwhile, Cipher Mining Inc. (NASDAQ:CIFR) announced stellar earnings performance in the last quarter, with net loss narrowing by 96 percent to $3.28 million from $86.75 million in the same period last year.

Operating loss also shrunk by 59 percent to $37.6 million from $91.4 million year-on-year.

Also on Monday, Cipher Mining Inc. (NASDAQ:CIFR) announced the formation of a joint entity to develop a 1-GW HPC campus in West Texas. It would own 95 percent of the stake in the joint venture firm, as well as shell out majority of the funds for the development.

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