What Happened to Cipher Digital?
Ticker: CIFRSPAC Year: 2020
Return
+48.9%
Current Price
$8
Peak Price
$25.52
Trust Size
$4.3B
Summary
Cipher Digital (formerly Cipher Mining) is a Bitcoin mining company that operates large-scale mining facilities in Texas. The company went public via SPAC merger with Good Works Acquisition Corp in 2021. Cipher has expanded into AI/HPC infrastructure alongside its mining operations.
What Happened
Good Works Acquisition Corp merged with Cipher Mining in August 2021. The company built out significant mining capacity in Texas and survived the 2022 crypto winter. It rebranded to Cipher Digital and pivoted toward AI/HPC hosting alongside Bitcoin mining. The stock is rated 'Strong Buy' by analysts and trades on Nasdaq. It was misclassified as bankrupt.
Timeline
2020-10-09
S-1 Registration Filed