Cantor Fitzgerald Cuts PT on Cipher Digital (CIFR) to $22, Sees AI Infrastructure as “Attractive Place to Invest”

Cipher Digital Inc. (NASDAQ:CIFR) is one of the best bitcoin stocks to buy now. Cantor Fitzgerald cut the price target on Cipher Digital Inc. (NASDAQ:CIFR) to $22 from $24 on April 9, reiterating an Overweight rating on the shares. The firm told investors that it believes the world is heading toward the proliferation of AI across nearly every sector, business, and economy. In such a context, it considers AI infrastructure to be “an attractive place to invest”, given that investors are somewhat agnostic to which AI app or AI model emerges victorious. Cantor added that it envisions a persistent supply/demand imbalance for the next five-plus years that caters to pricing remaining strong.

Cipher Mining (CIFR) Jumps Alongside Bitcoin Ahead of Q2 Results

In a separate development, Cipher Digital Inc. (NASDAQ:CIFR) announced on March 25 the execution of its third data center campus lease, stating that the agreement is for an initial term of 15 years with an investment-grade Hyperscale tenant. The terms of the agreement stated that the company would develop and deliver a new HPC data center at one of its existing sites.

Cipher Digital Inc. (NASDAQ:CIFR) develops and operates bitcoin mining data centers. It operates bitcoin mining data centers in Texas through its subsidiaries, including Cipher Mining Technologies Inc. The company specializes in industrial-scale Bitcoin mining and is dedicated to enhancing and fortifying the critical infrastructure of the Bitcoin network in the US.

While we acknowledge the risk and potential of CIFR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CIFR and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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