Keefe, Bruyette & Woods is bullish on Cipher Digital (CIFR), as the company is pivoting toward high-performance computing (HPC) data center development.

CoinNetwork

2026-03-20 19:31:21

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Keefe, Bruyette & Woods analysts have lowered their revenue and EBITDA forecasts for Cipher Digital Inc. (NASDAQ: CIFR) for 2026 and 2027 due to declining computing power prices, increased expenses, and the expected closure of its Bitcoin mining operations in 2027. The firm has reduced its target price from $22 to $20 but maintains an “Outperform” rating. Meanwhile, the company has rebranded from Cipher Mining to Cipher Digital to reflect its strategic shift toward developing high-performance computing data centers. CEO Tyler Page highlighted long-term leasing agreements with clients such as Amazon and Alphabet.

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