Cipher Digital Inc. (NASDAQ:CIFR) stock is falling on Friday amid lingering pressure from a massive second-quarter earnings miss and rising Treasury yields. The Nasdaq is up 0.22% while the S&P 500 has gained 0.47%.
According to Trading Economics, the 10-year U.S. Treasury yield traded around 4.7% on Friday after rebounding sharply in the previous session amid concerns that government plans to reduce borrowing costs may provide only a temporary solution. The 30-year yield climbed to around 5.25%, nearly erasing Wednesday’s decline after the U.S. Treasury Department announced larger debt buybacks.
Earnings and Capital Costs Weigh
For infrastructure developers like Cipher, expanding data center capacity requires substantial capital commitments, leaving investors sensitive to shifting macroeconomic conditions.
The market continues to digest Cipher’s recent second-quarter financial update on Aug. 4, where the company reported a quarterly net loss of $267.5 million alongside lower Bitcoin-mining revenues, despite accelerating capacity delivery at its Black Pearl facility and securing an option for a 900-megawatt site near San Antonio.
