On July 22, Cipher Mining Inc. rose 5.09% in regular trading, trading at $24.02 USD/share, with turnover of $318 million. The stock continues to benefit from a broad rally across bitcoin mining companies driven by major AI infrastructure partnerships.

The catalyst stems from Hut8 and IREN announcing AI infrastructure collaboration, which triggered a collective surge among bitcoin mining stocks transitioning toward artificial intelligence and high-performance computing. Specifically, Hut8 signed a 15-year lease agreement valued at $9.8 billion, while IREN disclosed $2.8 billion in cloud service contracts. IREN projects its AI cloud business annual recurring revenue will exceed $4 billion by year-end. These developments have reinforced market confidence in the sector-wide pivot from pure bitcoin mining to AI data center operations.

Additionally, Cipher Digital announced it will provide a second quarter business update and release financial results, with the earnings call scheduled for August 4. Bernstein previously initiated coverage on Cipher Mining with an Outperform rating and a $32 price target.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)