11 Best High Short Interest Stocks With Biggest Upside Potential

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9. Cipher Mining Inc. (NASDAQ:CIFR)

Number of Hedge Fund Holders: 40

Average Upside Potential: 56.11%

Cipher Mining Inc. (NASDAQ:CIFR) is one of the best high short interest stocks with biggest upside potential. On January 27, Keefe Bruyette analyst Stephen Glagola raised the firm’s price target on Cipher Mining to $22 from $13 and kept an Outperform rating due to a positive outlook on the company’s transition into AI infrastructure. The firm updated its financial model ahead of Cipher’s Q4 2025 report to account for favorable hash price trends and the successful execution of its AI colocation strategy, specifically highlighting the potential for significant new lease signings throughout 2026.

In other news, earlier on December 23, Cipher Mining Inc. (NASDAQ:CIFR) acquired “Ulysses,” which is a 200-megawatt site in Ohio. This marked the company’s first expansion outside of Texas. The transaction includes 195 acres of land with secured power capacity and interconnection approvals from AEP Ohio, providing direct access to PJM, the nation’s largest wholesale electricity market.

Optimized for HPC due to its scale, diverse fiber paths, and proximity to a major metropolitan area, the site is on track for energization in Q4 2027. This acquisition strengthens Cipher Mining’s strategic shift toward AI infrastructure and expands its total development pipeline to 3.4 GW across 8 sites.

Cipher Mining Inc. (NASDAQ:CIFR), together with its subsidiaries, develops and operates industrial-scale data centers in the US.

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