On August 19, Cipher Mining Inc. declined 5.53% in regular trading, trading at $15.25/share, with turnover of $98.20 million. The stock has been in sharp decline and volatile oscillation since reporting Q2 earnings on August 4.

The continued weakness stems from a severely disappointing Q2 report. The company posted a loss of $0.65 per share, far exceeding the analyst consensus estimate of a $0.22 loss, representing a 195% negative deviation. Revenue came in at $24.8 million, down 43% year-over-year and well below the Street estimate of $32.5 million. Since the earnings release, the stock fell nearly 30% over five consecutive trading sessions before entering a pattern of alternating rebounds and pullbacks.

Notably, Cipher disclosed progress on its AI data center pivot, with its Black Pearl campus beginning capacity delivery two months ahead of schedule. The company also secured a development option on a new Texas site and held $831.8 million in cash as of June 30. Prior to the earnings release, Chardan had initiated coverage with a Buy 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.)