10 Major Stocks Collapse

6. Cipher Mining Inc. (NASDAQ:CIFR)

Cipher Mining dropped for a second day on Thursday, shedding 8.75 percent to end at $7.40 each as investors sold off positions ahead of the release of its monthly operational update, which came out a few minutes after market close.

In a statement, Cipher Mining Inc. (NASDAQ:CIFR) said it was able to mine 241 Bitcoins for the month of August, an increase of 12.6 percent from the 214 units mined in July.

During the period, it also sold 42 units, bringing its total ownership to 1,414. Cipher Mining Inc. (NASDAQ:CIFR) said it also operated at an operating hash rate of ~23 EH/s.

Additionally, its newly commissioned Black Pearl Phase I accounted for approximately 39 percent of its total Bitcoin mined.

“With all rig deliveries on schedule, the company maintains expectations that Black Pearl Phase I will reach ~10 EH/s by the end of the third quarter, bringing Cipher’s total self-mining hashrate to ~23.5 EH/s,” Cipher Mining Inc. (NASDAQ:CIFR) said.