Cipher’s $850 million AI bet deepens investor scrutiny as Bitcoin miner’s stock plunges 52%

Cipher Digital shares slumped after the Bitcoin miner issued 40.7 million shares and borrowed $850 million to fund AI expansion. Data from Yahoo Finance shows that the company's stock closed at $8.98 on Oct. 16, down 10.6% for the session and at its lowest level since September 2025. The shares have lost more than 52% over the past year, reflecting mounting pressure on the company's valuation as it pursues an expensive transition into high-performance computing infrastructure. According to an Oct. 16 SEC filing , Cipher completed an exchange of approximately $165.9 million in convertible notes due 2030 for 40.7 million newly issued common shares, including consideration for accrued interest.

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