Cipher Mining Inc.

The stock remains in a powerful multi-month uptrend, trading well above its 200-day average of 17.679 and 50-day average of 22.0708. It sits near the top of its 52-week range, with the prior high at 30.14, signaling a stretched but still constructive regime after a major rerating.

Street sentiment is firmly bullish, with 13 Buy ratings and no Holds or Sells. The consensus target sits at 32.42, above the current trading range, and recent action has been mostly target raises, including BTIG to 35 and Morgan Stanley to 48.50 and 53.50.

The next print carries a mixed setup: the company has beaten on 2 of the last 7 quarters, but the last two reported quarters missed by 65.0% and 300.0%. Analysts still look for a sharp improvement, with next-year EPS at 0.67 versus TTM EPS of -2.32, so execution and margin progress matter most.

Recent activity is dominated by automatic equity-related transactions and tax-withholding flows, not clear discretionary buying. CEO Tyler Page and other executives had multiple M-Exempt and F-InKind entries, while the only explicit sales were modest director disposals from Cary Grossman and James Newsome.

Profitability remains weak, but the operating profile is improving from a low base. Gross margin is 12.4%, while revenue growth is still negative at -28.8% year over year and EPS TTM is -2.32, showing the business is not yet consistently translating scale into earnings.

Cipher trades like a high-beta digital infrastructure name, with a 3.203 beta and a valuation that still reflects turnaround expectations. Versus the sector, it screens as expensive on current earnings at a negative P/E, but the market is paying for future revenue and cash-flow expansion.