Cipher Mining (NASDAQ:CIFRW) Shares Up 9.5% – Here’s Why

Cipher Mining Inc. (NASDAQ:CIFRWGet Free Report)’s stock price shot up 9.5% during trading on Tuesday . The company traded as high as $0.49 and last traded at $0.46. 86,835 shares changed hands during mid-day trading, an increase of 8% from the average session volume of 80,113 shares. The stock had previously closed at $0.42.

Cipher Mining Stock Up 9.5%

The business’s 50 day moving average is $0.40 and its 200 day moving average is $1.06.

About Cipher Mining

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Cipher Mining Inc, together with its subsidiaries, engages in the development and operation of industrial scale bitcoin mining data centers in the United States. The company was incorporated in 2020 and is based in New York, New York. Cipher Mining Inc operates as a subsidiary of Bitfury Holding B.V.

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