THE BLOCK: Cipher Digital tumbles 15.7% after wider Q2 loss; Bernstein reiterates Outperform, keeps $32 target

AI Market Summary

Cipher Digital (CIFR) fell 15.7% after reporting wider Q2 losses, highlighting near-term earnings pressure in the bitcoin mining cohort. However, Bernstein reiterated an Outperform rating and maintained a $32 target, citing steady execution across three contracted AI data-center sites. The mixed message may keep CIFR volatile while limiting broader spillover beyond crypto-linked equities.

Impact level

● Low

Affected assets

NCSKCIFR2USD/USDT+1.83%

AI Insight · NCSKCIFR2USD/USDTAI Insight

● Neutral

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THE BLOCK: Shares of bitcoin miner Cipher Digital slid 15.7% Tuesday after the company posted a wider second-quarter loss. Bernstein reiterated its Outperform rating and maintained a $32 price target, noting execution remains on track across Cipher's three contracted AI data center sites.

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