Bernstein Holds $32 Price Target on Cipher Digital Despite Wider Q2 Loss and Stock Decline

BitcoinWorld Bernstein Holds $32 Price Target on Cipher Digital Despite Wider Q2 Loss and Stock Decline Bernstein analysts have maintained an outperform rating on Bitcoin miner Cipher Digital, keeping a price target of $32 per share even after the company’s stock fell 15.7% following the disclosure of a wider second-quarter loss.

The research firm noted that the three contracted AI data center projects are progressing as planned, which underpins their confidence in the company’s strategic direction.

Context: Cipher Digital’s Stock Drop and Q2 Performance Cipher Digital, a U.S.-based Bitcoin mining company, has been expanding into AI data center infrastructure to diversify revenue streams beyond cryptocurrency mining.

The wider Q2 loss, reported in early August, reflects increased operational costs and investments in these new ventures.