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Cipher Mining, Inc. (NASDAQ:CIFR) shares soared in Wednesday's after-hours trading as the Bitcoin (CRYPTO: BTC) mining firm confirmed the completion of the first phase of its ambitious Black Pearl data center.
CIFR is poised for a potential breakout. See what is driving the movement here.
The stock jumped over 7% after the market’s close, extending its double-digit rally from the regular trading session.
Cipher confirmed that Phase I of its Black Pearl facility in Texas is complete, delivering 10.1 exahashes per second of self-mining hashrate. The company achieved an operating hashrate of 23.6 EH/s.
See Also: Bitcoin (BTC) Price Predictions: 2025, 2026, 2030
Additionally, it reported mining approximately 251 BTC in September, including 19 BTC produced through joint-venture data centers.
Cipher, having a market capitalization of $6.89 billion, builds and operates industrial-scale data centers for BTC mining and high-performance computing activities.
Price Action: At the time of writing, BTC was exchanging hands at $122,038.50, up 0.33% in the last 24 hours, according to data from Benzinga Pro.
Shares of Cipher rallied 7.16% in after-hours trading after closing 11.75% higher at $17.60 during Wednesday’s regular trading session. The stock has skyrocketed nearly 280% in 2025.
CIFR demonstrated a very high Momentum score as of this writing. Want to know how it compares to larger Bitcoin mining companies such as MARA Holdings Inc. (NASDAQ:MARA)? Visit Benzinga Edge Stock Rankings.
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