These sales were executed through entities associated with Vavilovs, including Bitfury Top HoldCo B.V. and V3 Holding Ltd. Following the transactions, the entities collectively hold approximately 97.5 million shares of Cipher Mining (NASDAQ:CIFR).The report provides insight into the ownership structure of Cipher Mining, with multiple entities and individuals having interconnected holdings. Vavilovs, through his affiliations, maintains a significant stake in the company despite the recent sales.Investors may find this activity noteworthy, as it reflects changes in the holdings of a key stakeholder in Cipher Mining, a player in the crypto asset sector. According to InvestingPro analysis, the company maintains strong financial health with a current ratio of 2.57 and operates with moderate debt levels. While currently unprofitable, analysts expect positive earnings this year. Get access to 12+ additional exclusive ProTips and comprehensive analysis through the Pro Research Report. According to InvestingPro analysis, the company maintains strong financial health with a current ratio of 2.57 and operates with moderate debt levels. While currently unprofitable, analysts expect positive earnings this year. Get access to 12+ additional exclusive ProTips and comprehensive analysis through the Pro Research Report.
These sales were executed through entities associated with Vavilovs, including Bitfury Top HoldCo B.V. and V3 Holding Ltd. Following the transactions, the entities collectively hold approximately 97.5 million shares of Cipher Mining.
The report provides insight into the ownership structure of Cipher Mining, with multiple entities and individuals having interconnected holdings. Vavilovs, through his affiliations, maintains a significant stake in the company despite the recent sales.
Investors may find this activity noteworthy, as it reflects changes in the holdings of a key stakeholder in Cipher Mining, a player in the crypto asset sector.
In other recent news, Cipher Mining has reported significant growth in its Bitcoin production for November, mining approximately 2,021 bitcoins. This follows an increase in October, where the company mined around 1,681 bitcoins. These developments underscore the ongoing upgrade of Cipher Mining's mining fleet and the construction of the new Black Pearl data center.
In addition to its mining activities, Cipher Mining has announced a strategic shift towards developing high-performance computing (HPC) data centers. Despite a GAAP net loss of $87 million for the third quarter, the company has acquired five greenfield development sites in Texas, suitable for both HPC operations and Bitcoin mining. The company expects to energize the Black Pearl site in Q2 2025 with a target capacity of 21.5 exahash per second.
JPMorgan (NYSE:JPM) recently upgraded Cipher Mining's stock from Neutral to Overweight, reflecting a positive outlook on the company's expansion and operational advancements in the Bitcoin mining sector. The firm highlighted Cipher Mining's advantageous power contract and anticipated fleet upgrades, which are expected to enhance the company's mining economics.
Cipher Mining's hashrate is projected to surge by more than 190%, while its active power capacity is expected to increase by over 90% going into 2025. Analysts from JPMorgan also noted that Cipher Mining is in a prime position to secure a deal in the HPC market within the next three to six months. These are the recent developments concerning Cipher Mining.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.