Cipher Mining price target raised to $30 from $25 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Cipher Mining (CIFR) to $30 from $25 and keeps a Buy rating on the shares after the company announced that it has secured a $5.5B, 15-year lease agreement with Amazon Web Services (AMZN) to deliver 300 MW of gross power capacity at Black Pearl in 2026. To the firm’s knowledge, this marks the first time a bitcoin miner has signed a major colocation deal directly with a hyperscaler, notes the analyst, who likes the deal for several reasons, including pricing, profitability and the view that it “significantly boosts Cipher’s credibility as a major player in the HPC/AI data center space.”