Cipher Mining earns Jefferies Buy rating, citing AI data center strategy

Jefferies initiated coverage of Cipher Mining Inc. with a Buy rating and a $32.00 price target.

The valuation suggests a potential upside of over 50% from the current share price of $21.24.

Cipher Mining currently holds a consensus Strong Buy rating from market analysts.

Jefferies based its outlook on Cipher’s strategy of securing AI data center leases with investment-grade hyperscalers.

This model reduces financing and counterparty risks compared to industry peers.

The bank expects Cipher to secure additional leases as it delivers new capacity.