What's Going On With Climb In Cipher Mining Stock Wednesday?
Cipher Mining Inc (NASDAQ:CIFR) shares are trading higher on Wednesday. The company announced it delivered a notice of redemption for all outstanding warrants to purchase shares of common stock.
- CIFR is delivering impressive returns. See the full breakdown here.
What To Know: Cipher said the warrants that remain unexercised as of 5:00 p.m. ET on Dec. 26, 2025, will be redeemed at a price of $0.01 per warrant. These warrants were originally issued under a warrant agreement dated Oct. 19, 2020.
Under the terms of the warrant agreement, Cipher can redeem outstanding warrants once its stock closes at $18 or higher for 20 out of the 30 trading days. The company was able to hit that mark, with shares repeatedly closing above $18 throughout the 30‑day period, which ended Nov. 21, 2025.
Warrant holders now have until 5:00 p.m. ET on the redemption date to exercise their warrants at $11.50 per share. But Cipher's board has chosen to make all exercises "cashless," meaning investors won't be paying the $11.50 in cash.
Instead of paying cash, warrant holders will have their payment obligation offset against the shares they would normally receive. Essentially, each warrant exchanged will deliver 0.2687 shares of common stock. Any warrants not exercised by the redemption deadline will expire worthless, leaving holders with only the $0.01 redemption value per warrant.
Separately, JPMorgan analyst Reginald Smith upgraded Cipher from Neutral to Overweight earlier this week and raised the price target from $12 to $18, which sparked some bullish momentum in the name.
Cipher Mining shares also appear to be getting a lift on Wednesday amid strength across the broader crypto market. Bitcoin crossed back above $90,000 Wednesday afternoon, trading up approximately 3% over the past 24 hours.
CIFR Analysis
Cipher Mining stock is trading within its 52-week range of $1.86 to $25.52. Cipher Mining has surged 281.4% so far this year, giving it a $6.92 billion market value and making it one of the bigger names in crypto mining.
Cipher shares are showing strong momentum, trading about 9% above their 50‑day average of $16.90. They're also sitting nearly 140% above the 200‑day average of $7.67, underscoring the stock's powerful long‑term uptrend. The relative strength index (RSI) is at 51.68, a neutral reading that leaves room for further gains if buying picks up.
Support is set at $18.30, which could help cushion any pullbacks. With no clear resistance from recent trading, the next big test is the 52‑week high of $25.52 — a level that may draw investor attention as the rally continues.
CIFR Price Action: Cipher shares were up 7.42% at $18.81 at the time of publication on Wednesday, according to Benzinga Pro.
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