Hut 8's 15min chart shows MACD Death Cross, KDJ Death Cross.

Based on Hut 8's 15-minute chart, a significant technical indicator, the Moving Average Convergence Divergence (MACD) Death Cross, and the KDJ Death Cross, occurred on September 26, 2025 at 09:45. This technical event suggests that the stock price is likely to continue its downward trend, with the momentum of the stock price shifting towards the downside. Consequently, there is a potential for further decreases in the stock price.

Cipher Mining Inc. (NASDAQ: CIFR) experienced extreme volatility on September 25, 2025, with shares initially surging nearly 20% intraday before reversing sharply to close down over 15% by the end of the day Cipher Mining’s Wild Ride: Google AI Deal Propels CIFR Stock Up, Then Down – What’s Next for the Bitcoin Miner?^[1]. This wild swing came amid heavy trading volume (almost half the stock’s float) as investors reacted to major announcements.

The company inked a 10-year, ~$3 billion hosting deal with AI cloud firm Fluidstack, marking a strategic pivot into high-performance computing . Google will backstop $1.4 billion of Fluidstack’s obligations and received warrants for a ~5.4% stake in Cipher . Alongside the deal, Cipher unveiled plans to raise $800 million via zero-coupon convertible notes due 2031 . The proceeds are earmarked to fund expansion of its Barber Lake data center and support the big Fluidstack AI project .

However, news of this large debt offering sparked dilution fears, contributing to the stock’s pullback on Sep. 25 despite the Google partnership hype . Even after the one-day drop, CIFR stock remains dramatically higher in 2025, rising roughly seven-fold from its April 2025 lows amid renewed crypto market strength and AI buzz .

The recent performance and rally are impressive, but Cipher Mining’s fundamentals present mixed signals. The company’s Q2 2025 revenue was $44 million with non-GAAP adjusted earnings of $30 million , but on a GAAP basis it still posted a net loss of $46 million for the quarter . Bitcoin mining operations are expanding rapidly, but profitability remains elusive with hefty operating costs and pretax profit margins around -70% .

Cipher boasts a strong balance sheet and liquidity for now, with about $1.01 billion in assets vs. $270 million in liabilities (equity ~$749 million) and a comfortable current ratio ~4.2, while long-term debt was a modest $167 million before the new notes . The company has been funding growth through capital raises, indicating ample access to financing, albeit with increasing leverage.

The sector context shows that public crypto miner stocks have been on a tear, with the sector’s combined market cap roughly doubling from $21 billion to $47 billion over the past year . However, mixed market sentiment exists. Bulls argue the Google-backed contract is a “transformative” win, while skeptics highlight execution risks and potential overvaluation .

On September 26, 2025, at 09:45, a significant technical indicator, the Moving Average Convergence Divergence (MACD) Death Cross, and the KDJ Death Cross occurred on Hut 8's 15-minute chart. This technical event suggests that the stock price is likely to continue its downward trend, with the momentum of the stock price shifting towards the downside . Consequently, there is a potential for further decreases in the stock price.