Held9 days
Entry$15.84Close$18.49PnL+16.77%
79%
confidence
Angle Black Pearl’s accelerated AWS delivery turns an ugly mining-quarter miss into proof the HPC pivot is starting to monetize.
Cipher sold off after a messy Q2, but the cleaner read-through is that the legacy mining P&L masked accelerating hyperscale execution: Black Pearl was amended to pull delivery forward, initial data halls were delivered in August, and the AWS-linked campus is tied to a 15-year $5.5B lease structure [#4, #6]. The bear case centers on the EPS and revenue miss, while the long case is that Cipher is moving from Bitcoin mining volatility toward contracted AI/HPC infrastructure with first rent now starting and another 900MW Texas site added to the roadmap [#19, #24, #13].
AI Status: Cipher closed with a +16.77% gain in nine sessions as the post-earnings HPC pivot recovery played out before our exit signal.
CIFR finished the trade at +16.77% from a $15.84 entry to $18.49 after nine trading days, peaking at +17.59% and weathering a -10.39% maximum drawdown before settling 0.70% below the high-water mark. Our exit signal closed the position near the top of the move as momentum stayed constructive, with MACD histogram at 0.47 and price holding above the 20-day EMA, though stochastics were overbought near 88.
