Cipher Mining Soars 32% After Major Amazon Deal, Signaling Shift Towards AI Hosting

Cipher Mining’s stock soared over 32% following a significant $5.5 billion deal with Amazon Web Services (AWS). This agreement signifies a major shift in the crypto mining industry, with Cipher focusing on providing infrastructure for artificial intelligence (AI) workloads. The company will supply turnkey space and power for AI tasks to AWS starting July and August of next year, according to their announcement.