Crypto Mining (CIFR) Sky Rocket 15.9% because mining capabilities exceed targets

Cipher Mining Inc. (NASDAQ: CIFR) is one of them Double-digit gain: 10 shares that surge like crazy.

Crypto-mining closed at $5.68 each following news that it had risen 15.92% on Wednesday, surpassing its self-recruitment ability guidance for the second quarter of this year.

In a statement, Cipher Mining Inc. (NASDAQ: CIFR) said that the first phase of Black Pearl successfully delivered 3.4 EH/s, passing the total self-mining hashrate to 16.8 EH/s, above the previous 2.5 EH/s.

Close-up of laptop with Bitcoin ecosystem monitor running in the background.

“The company expects to expand to ~23.1 Eh/s upon completion of installation,” it said. The hashrate will continue to increase through the third quarter of the year as new mining rigs continue to be delivered in scheduled batches and gradually replaced with legacy units.

Additionally, Cipher Mining Inc. (NASDAQ: CIFR) said it could mine 160 Bitcoins last month, bringing its total ownership to 1,063 after selling 58 during the period.

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Read next: Best AI stocks to buy now and According to the billionaire, 30 best stocks to buy now.

Disclosure: None. This article was originally published Insider Monkey.