Why Cipher Mining Stock Trounced the Market Today

The crypto mining world was rocked on Thursday with news of a massive order for the equipment that can produce the most popular digital coin in the world. One miner that benefited from a positive knock-on effect was Cipher Mining (NASDAQ: CIFR), which saw a nearly 10% rise in its stock that trading session alone. This was far more than good enough to top the marginal increase of the S&P 500 index.That order hit the desk of Singapore-based crypto mining infrastructure specialist Canaan. The company reported it has been drafted to supply over 50,000 of its Avalon A15 mining rigs. Although these machines have the capability to mine other cryptos besides Bitcoin, it is designed and built with the No. 1 digital coin firmly in mind. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool