Cipher Mining Inc

CIFR remains in a Stage 4 decline with decisive support failure confirming continued downtrend. Price has broken below all major EMAs and the 200 DMA and is extended in extreme oversold territory. Supply dominance and failed support signal further downside acceleration. We recommend selling into weakness with continuation participation while monitoring for any relief rally that might absorb selling pressure.

• ↑Long-term contracts secure $11.4B in leased revenue, enabling ~$787M annual NOI.
• ↑Revenue up 48% YoY to $223.9M, reflecting successful HPC pivot.
• ↓Q1 net loss of $114M and YTD loss ~$822M underscores poor profitability.