Cipher Mining Inc. (NASDAQ:CIFR) stock fell Wednesday as the company announced a proposed offering of $2.00 billion in senior secured notes. This decline comes as broader markets are experiencing mixed performance, with the S&P 500 down 0.21% and the Nasdaq slipping 1.25%.
Cipher Mining Announces $2B Notes Offering
Cipher Mining’s wholly-owned subsidiary, Black Pearl Compute LLC, intends to offer the notes due in 2031, primarily to qualified institutional buyers.
The proceeds from this offering are earmarked for financing the remaining costs of the Black Pearl Facility in Wink, Texas, as well as for reimbursing Cipher for prior equity contributions totaling approximately $232.5 million.
The offering is subject to market conditions, and the notes will be secured by first-priority liens on substantially all of the issuer’s and its guarantors’ assets.
Bloomberg reported that in November, Cipher signed an agreement to build 300 megawatts of gross data-center capacity at its Black Pearl facility, which will be leased to Amazon Web Services, a unit of Amazon.com Inc. (NASDAQ:AMZN), for at least 15 years.
The broader market saw declines, with the Technology sector down 1.25% today. Cipher Mining’s stock performance reflects this trend, suggesting the company is facing challenges amid the mixed market environment.
CIFR’s Bearish Trend: Below SMA Indicators
Currently, Cipher Mining is trading 21.3% below its 20-day simple moving average (SMA) and 18.6% below its 100-day SMA, suggesting a bearish trend in the short- to medium-term. Over the past 12 months, shares have increased by 135.80% and are currently positioned closer to their 52-week lows than highs.
The RSI is at 36, which is considered neutral territory, indicating that the stock is neither overbought nor oversold. Meanwhile, MACD is below its signal line, indicating bearish pressure on the stock.
The combination of neutral RSI and bearish MACD suggests mixed momentum for Cipher Mining.
- Key Resistance: $15.50
- Key Support: $13.50
The stock’s position within its 52-week range suggests it has room to recover, but traders should watch for potential tests of the $13.50 support level. If this level is breached, it could signal further downside risk.
Short Interest Update
Cipher Mining’s short interest has decreased by 15.57%, with 49.88 million shares sold short, representing 16.7% of its float. This drop signals a shift in market sentiment, indicating a reduction in bearish positions. Despite this, Cipher Mining still has a higher short interest than its peers, with its peer group average at 11.32%.
Upcoming Earnings: CIFR’s Financial Outlook
Investors are looking ahead to the next earnings report on February 24, 2026.
- EPS Estimate: 3 cents (Down from 14 cents YoY)
- Revenue Estimate: $84.14 million (Up from $42.22 million YoY)
Analyst Consensus & Recent Actions:
The stock carries a Buy Rating with an average price target of $23.96. Recent analyst moves include:
- Keefe, Bruyette & Woods: Outperform (Raises Target to $22.00) (Jan. 27)
- Canaccord Genuity: Buy (Maintains Target to $27.00) (Dec. 15, 2025)
- JP Morgan: Upgraded to Overweight (Raises Target to $18.00) (Nov. 24, 2025)
CIFR’s Impact on Key ETFs
- Amplify Transformational Data Sharing ETF (NYSE:BLOK): 4.75% Weight
- Global X Blockchain ETF (NASDAQ: BKCH): 5.15% Weight
- Fidelity Crypto Industry and Digital Payments ETF (NASDAQ: FDIG): 5.46% Weight
Significance: Because CIFR carries such a heavy weight in these funds, any significant inflows or outflows will likely trigger automatic buying or selling of the stock.
CIFR Price Action: Cipher Mining shares were down 18.79% at $13.20 at the time of publication on Wednesday, according to Benzinga Pro data.
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