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Black Pearl Phases Will Increase Flexible Bitcoin Mining Capacity

Published
15 Sep 24
Updated
28 Sep 25
AnalystConsensusTarget's Fair Value
US$11.38
54.7% overvalued intrinsic discount
28 Sep
US$17.60
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1Y
379.6%
7D
27.4%

Author's Valuation

US$11.3854.7% overvalued intrinsic discount

AnalystConsensusTarget Fair Value

Shared on28 Sep 25
Fair value Increased 44%

Analysts have raised Cipher Mining's price target from $7.91 to $11.38, citing strong value creation potential from AI hosting site re-designations, sector-wide validation of mining infrastructure amid rising AI demand, and positive peer transaction signals. Analyst Commentary Bullish analysts cite Cipher's Barber Lake and Black Pearl Phase 2 sites being re-designated for AI hosting as creating significant short- to mid-term value opportunities.

Shared on13 Sep 25
Fair value Increased 2.35%

Analysts have raised Cipher Mining’s price target to $7.91—reflecting increased optimism for miners with high-value compute infrastructure following the Core Scientific-CoreWeave deal, which highlights asset re-rating potential and heightened sector interest in high-performance computing opportunities. Analyst Commentary The Core Scientific sale to CoreWeave is seen as a validation of high-value powered land assets for AI compute, with favorable implications for valuations of peer miners like Cipher Mining.

Shared on29 Aug 25
Fair value Increased 2.41%

Analyst price targets for Cipher Mining have edged higher to $7.73, reflecting increased confidence in the valuation of powered land assets and energised megawatt capacity following a major industry acquisition, though tempered by ongoing concerns over deal structures and Cipher's relative ability to seize sector growth opportunities. Analyst Commentary Positive sentiment from a major acquisition in the industry is seen as a validation of powered land assets, implying higher valuation potential for players like Cipher Mining engaged in AI compute infrastructure.

Shared on01 May 25
Fair value Increased 39%

Shared on23 Apr 25
Fair value Decreased 23%

AnalystConsensusTarget has increased shares outstanding growth rate from 0.1% to 0.2%.

Shared on17 Apr 25
Fair value Decreased 1.82%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on09 Apr 25
Fair value Increased 0.49%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on02 Apr 25
Fair value Decreased 7.59%

Shared on26 Mar 25
Fair value Decreased 1.53%

AnalystConsensusTarget has increased revenue growth from 29.9% to 86.3% and decreased future PE multiple from 109.8x to 36.3x.

Shared on19 Mar 25

AnalystConsensusTarget has decreased revenue growth from 85.9% to 29.9% and increased future PE multiple from 35.8x to 109.8x.

Shared on11 Mar 25
Fair value Increased 15%

AnalystConsensusTarget has increased revenue growth from 72.7% to 85.9%, increased profit margin from 3.8% to 12.4% and decreased future PE multiple from 300.6x to 35.8x.