Cipher Mining is trading at $16.67 (-5.93%) following a sharp continuation of the 10.82% drop recorded on July 16.
- The decline tracks a broader retreat in digital assets, with Bitcoin down 1.98% and Ethereum falling 2.96% since the prior close.
- Broader tech sectors are also under pressure, as the NASDAQ Composite drops 1.91% and the XLK retreats 2.28%.
- The combined weakness in crypto and equity markets is fueling risk-off selling across the crypto mining industry.