Clear Street Cuts PT on Cipher Digital (CIFR) to $32 From $34 - Here's Why

Cipher Digital (NASDAQ:CIFR) is one of the best hot stocks under $20 to buy. On February 25, Clear Street cut the price target on Cipher Digital (NASDAQ:CIFR) to $32 from $34 and maintained a Buy rating on the shares. The firm told investors that it is remaining bullish on the stock coming out of the fiscal Q4 earnings as it sees a clear step-change in its earnings profile beginning in Q4, as lease revenue from Amazon and Fluidstack begins contributing in earnest. It believes that the inflection is underappreciated, especially given the quality of counterparties and the long-duration nature of the leases.

The rating update came after Cipher Digital (NASDAQ:CIFR) released its fiscal Q4 and full-year 2025 earnings on February 24, announcing that it rebranded from Cipher Mining to Cipher Digital, reflecting its pivot from bitcoin mining to HPC data center development. Fiscal Q4 2025 revenue came up to $60 million, with an adjusted net loss of $55 million. The company further reported that it secured 600 MW gross of total contracted HPC capacity to date across two leases, a 15-year 300 MW lease with AWS and a 10-year 300 MW lease with Fluidstack and Google. In addition, Cipher Digital (NASDAQ:CIFR) completed three bond offerings to finance HPC data center buildouts for aggregate proceeds of $3.73 billion.

Cipher Digital (NASDAQ:CIFR) develops and operates bitcoin mining data centers. The company specializes in industrial-scale Bitcoin mining and is dedicated to enhancing and fortifying the critical infrastructure of the Bitcoin network in the US.

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Disclosure: None. This article is originally published at Insider Monkey.