Cipher Mining (now Cipher Digital) is trading 10.3% up, reaching $24.61, as investors anticipate its August 4 Q2 update and its strategic pivot towards AI and high-performance computing (HPC) infrastructure. - The rally reflects optimism for the company's shift to AI data centers, a move solidified by major contracts with hyperscalers like AWS and Fluidstack. - Recent positive analyst coverage, including a new 'Buy' rating from Chardan and a price target raise from Keefe, Bruyette & Woods, is also fueling investor confidence. - Morgan Stanley recently highlighted Cipher Mining as a beneficiary of ERCOT's "Base Load" classification process, potentially accelerating data-center grid connections in Texas.