Cipher Digital jumps 13%, but grid status is no green light
Cipher Digital shares rose 13% after securing conditional grid classifications for 3.2 gigawatts of Texas data-center capacity, though these designations do not yet authorize power connections. The company first disclosed the total last week and identified individual sites in a Tuesday post on X.
Why it matters — CIFR watchers would note that while the grid classification is a step forward for the company's data-center plans, it stops short of actual power-connection approval, leaving the ultimate outcome still uncertain.