StocksMediumUpdated×2•Originally published 2 November 2026•Updated 2 November 2026•
1 min read
Cipher Mining Shares Drop 5% Following Keefe Bruyette Price Target Cut
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 shares fell 5% to $6.93 after Keefe Bruyette cut its price target for the stock. The decline followed the company's recent Q3 2026 earnings report which beat expectations, even as it moves forward with plans to expand its AI data center capacity to 5.9 GW.
The drop in Cipher Mining coincided with broader weakness in the sector, as shares of TeraWulf and IREN both fell 4%. Cipher Mining was trading at $6.93 on November 2, 2026, touching the lower end of its recent trading range which saw a high of $7.99.