Overview
- The stock reached an intraday record on Thursday, June 18, 2026 after a five‑day winning streak that lifted market value by about $2.2 billion and sent the share price into the high $28s.
- Cipher raised $810 million in senior secured notes through its Stingray subsidiary to finance a West Texas data center that Amazon has agreed to lease for 15 years, with Morgan Stanley representing the initial purchasers.
- Management moves reinforced the narrative: the company appointed Bill Blevins as head of grid strategies and completed a shareholder meeting that elected directors and approved management proposals.
- Despite the financing and momentum, Cipher’s most recent annual results show large losses—operating losses of roughly $337.4 million and net losses near $822.2 million—which prompted valuation warnings from services such as InvestingPro and Trefis.
- Short‑interest has fallen and technical indicators show strong momentum, but high volatility and the heavy capital needs for data‑center buildout leave the stock exposed to sharp re‑ratings if execution or profit improvement falters.