Cipher Digital Inc. (NASDAQ:CIFR) stock rose on Thursday as investors revalued the company toward a pure-play Artificial Intelligence (AI) and High-Performance Computing (HPC) hosting model.

The transition to a data center infrastructure model decoupled the equity from the broader cryptocurrency market downturn.

AI Pivot Versus Crypto Decline

While pure-play digital asset equities declined, CIFR increased as much as 10% on Thursday.

The total cryptocurrency market capitalization decreased 4.52% to $2.15 trillion, pressured in part by the Federal Open Market Committee decision led by Kevin Warsh on Wednesday.

Leadership Expansion and Grid Strategy

The gains followed Tuesday’s announcement that…

Read more on Benzinga