Quiet Prospects: CIFR & SOFI

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The market, as always, presents a curious spectacle. One observes valuations clinging to shares as if they were life rafts, while genuine potential often drifts unnoticed. A low price does not guarantee value, of course, nor does a high one preclude it. There is a certain irony in seeking opportunity amongst the less celebrated names, but perhaps a quiet dignity as well.

Fractional shares have democratized ownership, it is true, but there remains a subtle satisfaction in holding a whole share, a tangible piece of something, however small. It’s a vestige of an older world, perhaps, but one that persists. Here, we consider two such companies, Cipher Mining (CIFR 7.28%) and SoFi Technologies (SOFI 1.50%), not as soaring triumphs, but as possibilities, tempered by the realities of their present circumstance.

Cipher Mining: Powering Dreams, Delaying Gratification

Cipher Mining seeks to address a practical need in the burgeoning field of artificial intelligence – the demand for power. It is a grand ambition, to provide the infrastructure for these digital dreams, but infrastructure, as anyone knows, is rarely glamorous. The company’s proposition – AI data centers – is sound enough. Big technology will undoubtedly require such facilities, just as they require the chips themselves. The question, as always, is timing.

Morgan Stanley speaks of a looming power shortage by 2028, a shortage that will command a premium. Cipher Mining possesses a pipeline of 3.4 gigawatts, a substantial figure, yet it remains, for the moment, largely unrealized. The sites are not yet fully energized, a delay that weighs upon the share price, a quiet frustration for those who have invested their hopes. It is a familiar story: potential held captive by the mundane necessities of execution.

Agreements with Amazon and Alphabet offer a degree of security, a promise of recurring revenue. 244 megawatts allocated to Fluidstack, 300 to Amazon – a start, certainly, but barely a dent in their total capacity. Less than 20%, it seems. The revenue from these data centers has yet to materialize fully, the finishing touches proving elusive. The third quarter of 2025 brought $71 million in crypto revenue, a respectable sum, but the Amazon deal, they hope, will more than double that. A large hope, resting on a future yet to unfold.

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A balance sheet showing $1.2 billion in cash offers a degree of comfort, a buffer against the inevitable setbacks. Enough, they believe, to build more data centers, to secure more deals, to expand their reach. But capital, one suspects, is merely a tool. It is the vision, the execution, the sheer persistence that will ultimately determine their fate.

SoFi: A Fintech Seeking its Fortune

SoFi, an online bank, has demonstrated growth, despite a year-over-year stock decline of almost 30%. Revenue increased by 37% in the fourth quarter of 2025, coinciding with the relaunch of crypto trading. A promising sign, perhaps, but one must approach such enthusiasm with a degree of caution. The market is fickle, and crypto, in particular, is prone to sudden shifts in sentiment.

Over 63,000 customers engaged in crypto trading within ten days of its relaunch. A respectable number, but it remains to be seen whether this is a sustainable trend, or merely a fleeting moment of excitement. CEO Anthony Noto speaks of urgency, of a desire to lead in crypto and blockchain innovation. A noble ambition, but one that requires more than just words.

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The next crypto bull market, should it arrive, will undoubtedly benefit SoFi, but the company has diversified beyond this volatile asset class. Loan revenue increased by 30%, driven by rising consumer deposits. They have 13.7 million members, a substantial base, but membership alone does not guarantee success. Crypto offers a potential growth engine, but SoFi’s wider range of financial products suggests a more robust, if less spectacular, trajectory.

And so, the market continues its relentless march forward, full of promise and disappointment, of realized dreams and faded hopes. These two companies, Cipher Mining and SoFi, represent merely a small corner of this vast landscape, their futures uncertain, their potential yet to be fully revealed. The story, as always, remains unfinished.

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2026-02-21 09:13