Cipher Digital (CIFR) just gave investors another reason to watch the company as the AI infrastructure trade shifts toward power and data center capacity. Shares jumped more than 14% on Wednesday after ERCOT conditionally classified 3.2 gigawatts of the company’s Texas data center projects. Even after that rally, the stock remained about 44.5% below its 52-week high of $30.
The rally came despite a weak latest quarter. Cipher’s second-quarter revenue was $24.84 million, down from $43.57 million a year earlier and below the roughly $32.52 million consensus estimate. Its loss per share was $0.65, also worse than the expected $0.23 loss.
