What's Going On With Bitcoin Mining Stock Cipher (CIFR) Wednesday?

Benzinga·07/02/2025 13:54:49

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Cipher Mining Inc (NASDAQ:CIFR) shares are trading higher. The company on Wednesday provided an update on its Bitcoin (CRYPTO: BTC) mining operations for June.

What To know: Cipher said it produced 160 Bitcoin last month and sold 58, ending June with total Bitcoin holdings of approximately 1,063.

The miner had an operating hashrate of 16.8 EH/s as of the end of the month. Cipher Mining also announced that the first phase of its Black Pearl site is currently delivering approximately 3.4 EH/s of self-mining capacity, versus the company’s prior guidance of 2.5 EH/s for the second quarter.

Cipher said it expects its hashrate to continue to increase at the site through the third quarter as new mining rigs are delivered. The company anticipates scaling its hashrate to about 23.1 EH/s upon completion of the installation.

How To Buy CIFR Stock

By now you're likely curious about how to participate in the market for Cipher Mining – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

CIFR Price Action: Cipher Mining shares were up 8.57% at $5.32 at the time of publication Wednesday, according to Benzinga Pro.

Read Next:

Bitcoin’s Halving Cycle Is ‘Over’, Standard Chartered Affirms: What That Means For You

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