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Chris MacDonald

Jane Street Is Buying Up Cipher Mining Stock. Should You Grab CIFR Shares Here?

Cipher Jane Street Cipher Mining Bitcoin CIFR Mining

One of the more intriguing sectors for investors to consider right now has to be the Bitcoin (BTCUSD) mining space. Top crypto miners have seen significant volatility in recent weeks, as the price of Bitcoin and other top digital assets have fluctuated a great deal.

Much of this fluctuation is in the price of Bitcoin, with most crypto miners including Hut 8 (HUT), Bitfarms (BITF), Cipher Mining (CIFR) feeling the effects of fluctuations in Bitcoin prices. After hitting a high of around $120,000 per token just a month ago, Bitcoin is now trading down toward the $107,000 level. For Bitcoin miners like Cipher (which also has some high performance computing data centers), Bitcoin's price matters a great deal to the company's underlying profitability. That's true of most companies in this space, but even more so for companies that have announced large deals to expand their compute, particularly given where the price of chips has gone.

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