Bitcoin Mining Stock Cipher Mining Is Climbing Today: What's Going On?
Portfolio Pulse from Adam Eckert
Cipher Mining Inc (NASDAQ:CIFR) shares rose after announcing the acquisition of a 300 MW data center site in West Texas for $67.5 million. The site is ready for large-scale HPC or Bitcoin mining, and Cipher's portfolio is expected to grow to over 2.5 GW across 10 sites.
September 24, 2024 | 2:41 pm
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Cipher Mining's acquisition of a 300 MW data center site in West Texas for $67.5 million boosts its capacity for Bitcoin mining and HPC hosting. This strategic move is expected to enhance its portfolio to over 2.5 GW across 10 sites, driving share prices up.
The acquisition of a large-scale data center site enhances Cipher Mining's capacity for Bitcoin mining and HPC hosting, which is a positive development for the company. This strategic expansion is likely to drive investor interest and positively impact the stock price in the short term.
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