BTCC
/
BTCC Square
/
CoindeskEN
/
Cipher’s Bold Bitcoin-to-AI Pivot Sends Stock Soaring: Canaccord Boosts Target to $16
Cipher’s Bold Bitcoin-to-AI Pivot Sends Stock Soaring: Canaccord Boosts Target to $16
6
2
Another bitcoin miner jumps ship—this time chasing AI's siren song.
The Great Compute Migration
Cipher joins the growing exodus of crypto miners repurposing their hardware for artificial intelligence workloads. The strategic shift caught Wall Street's attention, with Canaccord Genuity slapping a $16 price target on the stock.
Mining's identity crisis continues as companies discover their expensive equipment can do more than just guess random numbers all day. The pivot reflects growing pressure to find sustainable revenue streams beyond bitcoin's volatile rewards.
Because nothing says 'stable business model' like chasing two of the most hyped technologies simultaneously—what could possibly go wrong?
By:
