10 Stocks Defy Chaos With Jaw-Dropping Gains

6. Cipher Mining Inc. (NASDAQ:CIFR)

Cipher Mining saw its share prices increase by 22.46 percent week-on-week, as investor sentiment was generally boosted by a broader market optimism, thanks to the US central bank’s signal to cut interest rates beginning next month.

Additionally, the rally can be attributed to a strong investor optimism for the overall industry, with a flurry of government initiatives already in place aimed at ramping up the sector.

Earlier this month, President Donald Trump issued a new executive order (EO) which aimed to democratize access to alternative assets for the 401(k) retirement savings plan.

Under the EO, fiduciaries can now diversify investments for the 401(k) outside the typical equities and funds, to alternative assets such as digital currencies, commodities, real estate, and infrastructure projects, and lifetime income products.

According to analysts, the new order is expected to lift many boats in the crypto ecosystem.

In other news, Cipher Mining Inc. (NASDAQ:CIFR) tripled its net loss in the second quarter of the year to $45.78 million from only $15.29 million in the same period last year. Revenues grew by 18.37 percent to $43.56 million from $36.8 million year-on-year.

Looking ahead, Cipher Mining Inc. (NASDAQ:CIFR) appeared more optimistic about its growth outlook following the commencement of hashing at its Black Pearl Phase 1 ahead of schedule. It said it expects the site to be fully leased by high-performance computing tenants.