Update shared on29 Aug 2025
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.
- The valuation multiples implied by the Core Scientific acquisition suggest energized megawatt capacity is now at a significant premium, benefiting Cipher Mining as it grows its HPC (high performance computing) exposure.
- Peer discounts in market pricing, particularly compared to deal valuations, are prompting bullish analysts to highlight upside potential for Cipher Mining and its competitors.
- Ongoing investor concerns around all-stock deal structures and potential share price volatility in acquiring firms may be a source of risk, moderating bullishness.
- Neutral analyst initiations indicate a wait-and-see approach, reflecting uncertainty on Cipher Mining’s ability to capitalize on sector tailwinds compared to peers.
What's in the News
- Cipher Mining reported July BTC production of 214, with 52 BTC sold, 1,219 BTC held, 111,500 mining rigs deployed, and a month-end operating hash rate of 20.4 EH/s.
- The company was dropped from multiple Russell growth and microcap benchmark indices.
- Black Pearl site commenced hashing with initial 2.5 EH/s, targeting 9.6 EH/s at phase completion, and projected company-wide self-mining hashrate of 23.1 EH/s.
- May BTC production was 179, with 64 BTC sold, 966 BTC held, 75,000 mining rigs deployed, and a month-end operating hash rate of 13.5 EH/s.
Valuation Changes
Summary of Valuation Changes for Cipher Mining
- The Consensus Analyst Price Target has risen slightly from $7.55 to $7.73.
- The Future P/E for Cipher Mining has risen from 48.39x to 52.49x.
- The Consensus Revenue Growth forecasts for Cipher Mining has fallen slightly from 66.8% per annum to 63.6% per annum.
Disclaimer
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