Shares of Cipher Mining Inc. (CIFR) surged 5.87% in the after-hours trading session on Tuesday, driven by investor optimism surrounding the company's expansion plans and robust operational performance in the Bitcoin mining industry.

Cipher Mining, a leading player in the cryptocurrency mining and data center development space, has been actively expanding its operations and infrastructure to capitalize on the growing demand for Bitcoin mining and high-performance computing (HPC) services.

In a recent operational update, the company reported a strong production of 180 Bitcoin in February 2025, despite a brief planned shutdown for maintenance. Cipher Mining's deployed mining rigs reached 75,000, with a month-end operating hashrate of 13.5 EH/s and an impressive fleet efficiency of 18.9 J/TH.

Furthermore, the company's ongoing development projects, such as the 300-megawatt Black Pearl data center and the planned 500-megawatt expansion at the Barber Lake site, have fueled investor confidence in Cipher Mining's ability to scale its operations and capture a significant share of the rapidly growing Bitcoin mining market.