JPMorgan downgraded Cipher Mining (CIFR) to Neutral from Overweight without a price target The firm updated bitcoin miner price targets and models to reflect the Q4 results and changes in bitcoin price and the network hash rate. The firm now sees less upside potential relative to peers for Cipher Mining shares. Cipher could sign a high performance compute deal at its Barber Lake site, which could drive upside, but deals can take up to nine months to negotiate and finalize, the analyst tells investors in a research note.
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