StocksMediumUpdated×3•Originally published 2 November 2026•Updated 2 November 2026•
1 min read
Cipher Mining Shares Under Pressure as Mining Revenue Plummets 71%
Key Facts
1Cipher Mining reported a plunge in Q3 revenue, leading to a dip in its stock price.
2The company expanded its AI and HPC data center pipeline to 5.9 GW, including growth at Barber Lake.
Cipher Mining reported a 71% drop in Bitcoin mining revenue, while quarterly interest expenses reached $59 million. These financial pressures followed borrowings of approximately $5.6 billion, impacting the company's fiscal outlook.
Shares of Cipher Mining fell 5% after Keefe Bruyette lowered its price target for the stock, despite the company's earlier Q3 2026 earnings beat. Cipher Mining was trading at $6.93 on November 2, 2026, touching the bottom of its recent trading range which had reached a high of $7.99.