Chardan Capital starts Buy on Cipher Mining, citing Bitcoin and AI infrastructure growth potential.

Chardan Capital has initiated a Buy rating on Cipher Mining with a $32 price target, suggesting a 38% upside from its current price of $23.15. The firm is expanding beyond Bitcoin mining to support AI companies with its energy infrastructure. Positive legislative developments like the Clarity Act could attract more institutional investors to digital assets, benefiting Cipher Mining. Despite recent stock price drops and expected lower earnings, the outlook remains optimistic ahead of the company's upcoming earnings report.