Cipher Mining Inc. (CIFR) saw its stock soar 5.26% in pre-market trading on Friday, following a significant upgrade in analyst forecasts for the company's 2025 financial performance.

According to the latest estimates, analysts now expect CIFR to generate revenue of $345 million in 2025, representing a substantial 126% increase compared to the previous 12 months. Additionally, analysts have slashed their projected losses for the year, forecasting a loss of $0.032 per share, down from earlier estimates of $0.13 per share.

The improved forecasts suggest that analysts have become more bullish on CIFR's business fundamentals and growth prospects, fueling the pre-market rally in the company's shares. However, the consensus price target for CIFR remained unchanged at $8.53, indicating potential lingering concerns about the company's ability to achieve sustained profitability despite the upgraded outlook.