The market’s been a fickle lover this week. Cipher Mining (CIFR) danced to its own tune, climbing 10.3% by Thursday, while Bitcoin (BTC) slumped 7.2% over the same stretch. That’s the thing about crypto-what’s good for the goose isn’t always good for the gander.
Bitcoin’s fall didn’t rattle Cipher much. Its stock had already vaulted 24.7% earlier in the week, a climb that felt less like a rally and more like a desperate sprint. The question wasn’t why Cipher rose-it was why Bitcoin didn’t drag it down.
Turns out, Cipher’s playing a different game now. It’s not just mining Bitcoin anymore. The company signed a 10-year deal with Fluidstack, an AI firm backed by Google. That’s the kind of news that makes stock charts twitch like a wounded animal. Cipher’s shares jumped 10% that day and haven’t looked back.
Cipher’s diversifying faster than a crook in a police raid. It’s mining Bitcoin, training AI, and reselling power when it’s cheaper than either. But here’s the kicker: despite all that, it’s still churning out more Bitcoin than ever. August’s production was up 51% year-over-year. Profitability? Not so much. The company sells 16% of its mined Bitcoin just to keep the lights on.
At 43 times trailing sales, Cipher’s stock is a high-stakes gamble. It’s the kind of bet a man makes when he’s got nothing left to lose. But then again, in crypto, nothing’s ever what it seems. 💰
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2025-10-17 18:23