фото показано с : invezz.com

Cipher, a prominent Bitcoin mining company that went public in 2021, is considering a potential sale after receiving a takeover bid.

With a market capitalization exceeding $2 billion, Cipher is reportedly in discussions with advisors to evaluate this interest, though a final decision on whether to proceed with the sale has yet to be made.

Following the news of the takeover bid, Cipher’s stock (CIFR) experienced significant volatility, surging to a high of $8.00 before settling at $6.56.

Cipher’s recent operational upgrades have been noteworthy. In December 2023, the company invested $99.5 million to acquire 37,000 T21 Antminers.

This was followed by a January 2024 purchase of 16,700 Avalon A1466 miners, aiming to enhance its computational power to 8.4 exahashes per second (EH/s).

The Bitcoin mining industry has seen a rise in political advocacy, particularly with the approach of the 2024 presidential election. Industry executives, including those from Cipher, have engaged with political figures such as candidate Donald Trump, who has expressed strong support for the industry.

Notably, Trump’s statements, advocating for all Bitcoin mining to be US-based, have boosted the industry’s confidence.

This political backing has positively impacted mining stocks, which saw a 10% rise following Trump’s promises to support the sector followed by another surge on July 15, c after the cessation of selling pressure from the German government.

In a broader industry trend, US-based Bitcoin miners, including Marathon Digital, have increasingly opted to retain their mined Bitcoin.

This strategic decision is driven by the anticipation of higher future profits, despite the capital-intensive nature of the mining business.

Cipher’s ongoing deliberations over the takeover bid, coupled with its recent technological enhancements and the favorable political climate, position the company at a critical juncture in its growth trajectory.

The post Bitcoin mining company Cipher considering sale after takeover bid appeared first on Invezz

Similar to Notcoin - Blum - Airdrops In 2024

origin »

232 +