ChargePoint (CHPT 2.72%) has been a disaster for long-term investors. The stock price of this electric vehicle (EV) charging station operator dropped by roughly 70% in 2025 and is down by 99% over the past five years.
Investors poured their capital into this name during the pandemic when the EV boom was at its peak. However, the bubble burst a while ago, and the stock continues to lose value.
You don't have to be a savvy investor to outperform ChargePoint. Buying just about any other stock out there would likely get the job done. However, investors who put their money into ChargePoint tend to be speculative growth seekers, and Cipher Mining (CIFR 2.83%) certainly fits that description, making it a viable alternative.
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Cipher Mining's infrastructure is the next big thing
Cipher Mining got its start as a Bitcoin miner but has recently pivoted to using its cryptocurrency mining infrastructure to become a landlord for artificial intelligence (AI) and data center tenants. It now focuses on turning its large development pipeline into profitable, long-term leases while managing debt and expansion efforts. Cipher Mining provides the energy and infrastructure necessary for intense AI workloads.
While EV infrastructure faces considerable challenges due to declining electric vehicle sales and the expiration of EV tax credits, Cipher Mining's AI infrastructure is a hot commodity that is bound to become more attractive in the years ahead.
The company has already signed multiple long-term deals with tech giants, including a 15-year deal with Amazon Web Services that comes to $5.5 billion. Cipher Mining has soaring annual recurring revenue that it is leveraging to expand its pipeline. The AI infrastructure leader has 3.4 gigawatts in its pipeline, and the Amazon Web Services deal takes up only 300 megawatts.
The strong demand for Cipher Mining's AI infrastructure is in sharp contrast with ChargePoint's leveled off EV infrastructure demand.
NASDAQ: CIFR
Key Data Points
Long-term profits are on the horizon
Neither company has reported a full year of profits for investors, but Cipher Mining is much closer to that goal. The AI infrastructure firm may become profitable in 2026 as new deals boost revenue and eventually translate into higher margins.
Cipher Mining lacks profits because it still makes most of its revenue from crypto mining. The narrative shifted significantly this year with multiple long-term deals, and it should translate into profitable quarters in 2026. The company is also powering more AI data centers as it brings more of its 3.4 gigawatt pipeline online.
ChargePoint doesn't have as clear a path to long-term profitability. Revenue only grew by 6% year over year to $106 million, while net losses came to $52.5 million. It's more difficult to expand margins and become profitable if losses are high and revenue growth is slowing down.
Investors don't have to bet on an EV boom that looks unlikely to materialize. The end of EV tax credits has already hurt electric vehicle sales. However, AI stocks are still hot, with many tech giants committed to spending more on this technology in 2026 than they did last year. Almost any stock looks more attractive than ChargePoint, but high-risk investors may like Cipher Mining due to its immense long-term potential.
