Cypherpunk Technologies (CYPH) PT Raised to $1.60 at Cantor Fitzgerald

Cantor Fitzgerald analyst Nathan Frankovitz raised the price target on Cypherpunk Technologies (NASDAQ: CYPH) to $1.60 (from $0.90) while maintaining an Overweight rating.

The analyst commented, "Cypherpunk Technologies (CYPH, OW) launched Cypherpunk Mining through a $33.33M all-stock acquisition of what the company describes as the world's largest Zcash mining fleet, adding ~4.2 GSol/s of Equihash hashrate across U.S.-based facilities, equivalent to approximately 18% of Zcash's network hashrate. The fleet currently mines roughly 7,800 ZEC per month, creating a new ZEC-denominated revenue and treasury-accumulation channel alongside CYPH's existing open-market purchases, with mined ZEC expected to count toward management's long-term target of owning 5% of ZEC supply. We view the acquisition as a meaningful evolution of CYPH's strategy, allowing the company to continue growing its ZEC treasury through internally generated production even during periods when its shares trade below NAV and ATM-funded purchases become less attractive. We introduced 2026E/2027E mining revenue estimates of $23.0M/$58.7M and moved to an SOTP valuation framework, valuing the ZEC treasury and mining business separately, while reiterating our Overweight rating and raising our PT to $1.60 from $0.90."

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