Cipher Mining shares rise as Bitcoin rebounds amid inflation and rate-hike concerns

  • Cipher Mining shares gained 7.94% to $17.20 as Bitcoin rebounded toward $79,000.
  • Wireless telephone services prices rose 5.9%, adding about 0.1 percentage point to core CPI.
  • Cipher is developing lateral pipelines intended to support up to 2.5 gigawatts of on-site generation before the end of 2027.

Cipher Mining Inc. shares rose 7.94% to $17.20 Friday as Bitcoin rebounded toward $79,000, lifting cryptocurrency-linked stocks while investors assessed August inflation ahead of the Federal Reserve's Sept. 15-16 meeting. U.S. CPI rose 0.4% in August and annual CPI held at 3.4%, while core CPI increased 0.3%, exceeding the 0.2% median forecast. A record 5.9% increase in wireless telephone services prices added about 0.1 percentage point to the core reading, with recent plan changes by AT&T Inc. and T-Mobile US Inc. cited by economists as a likely driver. The inflation result reinforced concern that the Fed would raise rates, although some analysts viewed the wireless-price effect as a one-time factor. Crypto-linked shares also gained ahead of a Senate vote on the Clarity Act, while Cipher's planned lateral pipelines could support up to 2.5 gigawatts of on-site generation and targeted power availability before the end of 2027. The Nasdaq rose 1.08%, the S&P 500 gained 1.01% and the technology sector advanced 1.55%.

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