Chardan Initiates Cipher Mining With Buy Rating, Citing AWS Deal

Chardan initiated coverage on Cipher Mining (CIFR) with a "Buy" rating and a $32 price target. The firm bases its positive outlook on Cipher's strategic pivot to developing data centers for high-performance computing.

Cipher's 15-year lease agreement with Amazon Web Services (AWS) is a key factor in the rating, differentiating it from peers. The deal leverages Cipher's energy assets for high-demand AI and HPC markets. This complements Cipher's existing bitcoin mining operations.