Cipher Mining (CIFR 4.90%) jumped 19.4% Tuesday to close at $9.22, setting a new intraday 52-week high of $9.36. Trading volume reached 66.6 million shares, nearly double its three-month average of 33.8 million, underscoring elevated investor activity.
The broader market also advanced. The S&P 500 (^GSPC 0.37%) gained 0.3% to 6,512.61, while the Nasdaq Composite (^IXIC 0.79%) rose 0.4% to 21,879.49.
Cipher Mining's peers followed suit, with HIVE Digital Technologies (HIVE 25.17%) up 15% to $2.99 and Hut 8 Corp (HUT 4.39%) rising 15% to $29.30. The broad-based gains reflected sector momentum as investors sought exposure to Bitcoin-linked names.
Cipher's move came as Bitcoin's (BTC 2.35%) rally continued to push mining profitability to its highest levels in months. The company has expanded its mining footprint and focused on lower-cost energy sources, which magnify upside when cryptocurrency prices strengthen. Still, the stock remains closely tied to Bitcoin valuations, and investors should be mindful that sharp reversals in the cryptocurrency market can quickly change the outlook.
Market data sourced from Google Finance and Yahoo! Finance on Tuesday, Sept. 9, 2025.
