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flag Cipher Mining surged over 5% to $12.30 on Monday after a Google-backed deal and a $1.1B funding round.

flag Cipher Mining (CIFR) jumped over 5% to $12.30 on Monday, fueled by a bullish upgrade from Macquarie, which raised its price target to $16, and a major hosting deal with Google-backed Fluidstack to transform its Barber Lake facility into a large-scale AI compute hub. flag The company also completed a $1.1 billion zero-coupon convertible note offering to fund expansion, avoiding equity sales or high debt. flag Analysts noted the strategic pivot to data center services came earlier than expected, reflecting strong demand for computing capacity amid rising hyperscaler needs. flag Despite a quarterly loss and revenue below estimates, the stock’s momentum remains strong, with multiple firms upgrading ratings and technical indicators signaling an uptrend.

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