Cipher Digital shares tumble 19% after Texas governor upset

Cipher Digital shares have fallen nearly 19% to around $6.60 on Nov. 4 following Gina Hinojosa’s victory in the Texas governor’s race, after the Democrat campaigned for a moratorium on new data centers. Summary CIFR traded near $6.60 on Wednesday morning before falling further in the session. Hinojosa has called for a pause on new data centers until lawmakers pass community protections. Cipher reported its first HPC lease revenue in quarterly results released on Nov. 2. Riot disclosed a $28 billion Corsicana lease covering 910 MW of critical IT capacity. FinancialContent’s morning market data showed CIFR at $6.595, down 18.78%, at 10:28 a.m. EST. By 12:18 p.m., its delayed quote showed $6.465, a 20.38% decline, with shares having traded as low as $6.18. The selling followed Hinojosa’s defeat of Republican incumbent Greg Abbott in Tuesday’s election. Texas Secretary of State election returns recorded her lead, while the Associated Press called the race for the Democrat. Cipher Digital traders react to another double-digit swing On X, trader Urkel highlighted the reversal from the previous session, writing that CIFR had been up approximately 18% before falling by a similar amount Wed...