What Happened With Cipher Mining Stock Today?
Portfolio Pulse from Erica Kollmann
Cipher Mining Inc. (NASDAQ:CIFR) shares surged 27.8% on Monday as Bitcoin's price climbed above $63,000. The rally was fueled by Germany's liquidation of Bitcoin holdings and a failed assassination attempt on former President Donald Trump, which investors interpreted as positive for cryptocurrencies. Cipher Mining's operational update revealed it mined 176 Bitcoin, sold 103, and held 2,209 Bitcoin in June 2024.
July 15, 2024 | 9:17 pm
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Cipher Mining Inc. shares surged 27.8% as Bitcoin's price climbed above $63,000. The rally was driven by Germany's Bitcoin liquidation and a failed assassination attempt on Trump, which investors saw as positive for cryptocurrencies. Cipher Mining's operational update showed it mined 176 Bitcoin, sold 103, and held 2,209 Bitcoin in June 2024.
The significant rise in Bitcoin's price directly impacts Cipher Mining's stock positively, as the company is heavily involved in Bitcoin mining. The operational update showing substantial Bitcoin holdings further supports the stock's upward movement.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100