On June 4, Cipher Mining fell 6.59% in regular trading, trading at $24.48/share, with trading volume of $95.42 million. The decline extended pre-market losses exceeding 5% as broad weakness swept through crypto mining stocks, with peer IREN Ltd dropping 7.57% in the same session.

Fundamentally, Cipher Mining reported a Q1 net loss of $114 million, expanding 193% year-over-year, on revenue of $34.84 million that declined 28.84% as the company undergoes a strategic pivot from Bitcoin mining to AI high-performance computing infrastructure. While the company has secured approximately $11.4 billion in long-term data center leasing contracts covering 700MW of HPC capacity with investment-grade cloud providers, near-term financial pressure from the transition continues to weigh on sentiment.

Despite the selloff, multiple institutions maintain bullish outlooks. Bernstein initiated coverage with an outperform rating and $32 target price on the same day, while Morgan Stanley holds a $42.50 target and Jefferies targets $32, citing long-term cash flow potential from data center leasing.

(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.)