Cipher Mining Inc. (CIFR) saw its stock soaring by 5.06% in pre-market trading on Monday, following the release of the company's January 2025 operational update.

The update highlighted several positive developments for Cipher Mining:

• Strong bitcoin mining output with 219 BTC mined in January, alongside an estimated additional 1 BTC equivalent from power sales.
• Continued expansion of its mining operations, with 75,000 mining rigs deployed and an operating hashrate of 13.5 EH/s by the end of January.
• Progress in the construction of its Black Pearl site, nearing completion of Phase 1 buildings covering over 100,000 square feet, designed to house approximately 40,320 mining rigs.
• Ongoing discussions with potential tenants and financing partners, aligning with the company's vision to establish itself as a leader in HPC data center development.

With its expanding mining capacity, improving operational efficiency, and progress in facility construction, Cipher Mining appears well-positioned for continued growth in the bitcoin mining industry. Investors responded positively to the company's January update, driving the stock's surge on Monday.