Stock Market Today: Cipher Mining Slides on Bitcoin Weakness Despite Google-Backed AI Hosting Agreement
Cipher Mining's stock (CIFR) fell 17.7% to $11.64 amid a broader market decline, with the S&P 500 and Nasdaq both down 0.5%. The drop was influenced by a 3.4% decrease in Bitcoin prices, which affected crypto-related stocks. Despite announcing a significant 10-year AI hosting agreement with Fluidstack worth up to $7 billion, Cipher's stock remains sensitive to Bitcoin's volatility. Trading volume surged to 153 million shares, significantly above average.
Cipher Mining (CIFR -17.93%) closed at $11.64, down 17.7%. Trading volume surged to about 153 million shares, roughly 4.1 times its three-month average.
Indexes finished lower. The S&P 500 (^GSPC -0.50%) fell 0.5% to 6,604.72, and the Nasdaq Composite (^IXIC -0.50%) declined 0.5% to 22,384.70, as losses in technology stocks pressured the market.
Among Bitcoin mining peers, Riot Platforms (RIOT -7.03%) dropped 7% to $16.74, and Hut 8 Corp (HUT -8.28%) slid 7.9% to $34.88. The declines reflected weakness in Bitcoin (BTC -3.10%), which fell 3.4% to $109,534.50, pulling down crypto-related equities across the sector.
Cipher's loss came even after it announced a 10-year artificial intelligence (AI) hosting agreement with Fluidstack, valued at about $3 billion, with extensions that could bring the total near $7 billion. Alphabet (GOOGL -0.56%) (GOOG -0.53%) will guarantee $1.4 billion of lease obligations under the deal and receive warrants representing roughly 5.4% equity in Cipher. While the agreement highlights Cipher's expansion into high-performance computing, today's trading showed the stock's continued sensitivity to swings in Bitcoin.
Market data sourced from Google Finance and Yahoo! Finance on Thursday, Sept. 25, 2025.
