24/7 Market News Snapshot 02 July, 2025 – Cipher Mining Inc. Common Stock (NASDAQ:CIFR)
DENVER, Colo., 02 July, 2025 (www.247marketnews.com) – (NASDAQ:CIFR) are discussed in this article.
Cipher Mining Inc. (NASDAQ:CIFR) is experiencing a significant surge in market performance, reflecting heightened investor confidence. The company opened at $5.36 and has seen its stock price soar over 20%, reaching $5.89, with a trading volume of approximately 94.93 million shares. This bullish momentum has garnered attention from market analysts, indicating a potential turning point for Cipher Mining in the crypto mining sector as it navigates a dynamic environment.
In addition to its impressive stock performance, Cipher Mining has achieved a notable milestone in self-mining capacity with the launch of its Black Pearl project. The first phase has exceeded expectations by delivering approximately 3.4 EH/s of self-mining capacity, surpassing the previously forecasted guidance of 2.5 EH/s for the second quarter of 2025. With ongoing rig installations and deliveries, the company anticipates continued expansion in its hashrate, projecting growth into the third quarter of 2025.
Currently, Cipher’s total self-mining hashrate stands at about 16.8 EH/s, progressing towards a target of 23.1 EH/s. The company has also shared a preliminary production and operations update for June 2025, reporting approximately 1,601 BTC in mining output and a mined BTC reserve of 1,063 BTC. Additionally, Cipher has deployed 104,000 mining rigs that enhance its operational efficiency to 20.8 J/TH.
By continuously pursuing innovation, Cipher Mining is positioning itself as a leader in the cryptocurrency sector, focusing on large-scale data centers for Bitcoin mining and high-performance computing. With its proactive strategies and ongoing projects, Cipher Mining is set to make significant contributions to the evolving landscape of cryptocurrency mining in the coming months.