Cipher Mining Inc (CIFR)

[Whalatane]

Maybe but from what I've read theres been some major forced selling / margin calls , once Bitcoin dropped below 92K.
Traders are hoping that the $82K-$85 K is the new base ...otherwise its a test of the April lows .
The crypto fear and greed index is at 2022 lows ...so I added a little IREN when it got close to $40 , may add CIFR next week.

The back drop for the miners switching to AI data centers is that they still relying on bitcoin income to help finance the transition.
So they are currently hurt by both a drop in the hash rate ( what they make producing the bitcoin ) and what they can sell it for ...a double negative.
CIFR hold 1500 bitcoin ...so the drop in value certainly hurts them . IREN sells theirs as soon as they produce it

What I need to do is spend some time on when these Co's will start generating more $ from the data centers they are building out . Definitely happening for IREN in 2026 , need to chk on WIFR
By the way ...some more DD on depreciation of these GPU's . Now think Chanos has it wrong .
Will be big for NVDA if US allows sales to China to resume ...and Chinese govt OK's purchases.

Kiwi