Double Digit Gains: 10 Stocks Soaring Like Crazy

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1. Cipher Mining Inc. (NASDAQ:CIFR)

Cipher Mining rallied by 15.92 percent on Wednesday to close at $5.68 apiece following news that it exceeded its self-mining capacity guidance for the second quarter of the year.

In a statement, Cipher Mining Inc. (NASDAQ:CIFR) said that the first phase of Black Pearl successfully delivered 3.4 EH/s, exceeding its earlier guidance of 2.5 EH/s, putting its total self-mining hash rate to 16.8 EH/s.

“The company maintains its expectations to scale to ~23.1 EH/s upon completion of the installation,” it sai, adding that hash rate will continue to increase through the third quarter of the year as new mining rigs continue to be delivered in scheduled batches, gradually replacing legacy units.

Additionally, Cipher Mining Inc. (NASDAQ:CIFR) said it was able to mine 160 Bitcoins last month, putting its total ownership at 1,063 after selling 58 during the period.

While we acknowledge the potential of CIFR to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CIFR and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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