Why Cipher Mining Stock Soared on Monday Morning

Shares of Cipher Mining (NASDAQ: CIFR) skyrocketed on Monday morning. The jump peaked around 10 a.m ET with a 34.6% gain. Cipher's stock cooled down somewhat to a 20.1% increase by 2:15 p.m. ET. The Bitcoin mining company published third-quarter results early in the morning, missing Wall Street's expectations across the board.You read that right -- Cipher fell short of analysts' consensus earnings and revenue estimates, but the stock soared anyhow.The company's Bitcoin mining revenue nearly tripled year over year, from $24.1 million to $71.7 million. Adjusted earnings swung from a net loss of $0.01 per share to a net profit of $0.10 per share. Analysts had expected more with their average targets set at $76.5 million and $0.11 per share, respectively.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool