Company: CIFRW
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001193125-25-124285
Chunk: 80

Company: Cipher Mining Inc.
Filing Date: 2025-05-22
Form: 424B5
Chunk 80
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ii) the daily VWAP per share of our common stock on such VWAP trading day.

“Daily
maximum cash amount” means, with respect to the conversion of any note, the quotient obtained by dividing (i) the specified dollar amount applicable to such conversion by (ii) 30.

“Daily share amount” means, with respect to any VWAP trading day, the quotient obtained by dividing (i) the excess, if any, of the daily
conversion value for such VWAP trading day over the applicable daily maximum cash amount by (ii) the daily VWAP for such VWAP trading day. For the avoidance of doubt, the daily share amount will be zero for such VWAP trading day if such daily
conversion value does not exceed such daily maximum cash amount.

“Daily VWAP” means, for any VWAP trading day, the per share volume-weighted
average price of our common stock as displayed under the heading “Bloomberg VWAP” on Bloomberg page “CIFR <EQUITY> AQR” (or, if such page is not available, its equivalent successor page) in respect of the period from the
scheduled open of trading until the scheduled close of trading of the primary trading session on such VWAP trading day (or, if such volume-weighted average price is unavailable, the market value of one share of our common stock on such VWAP trading
day, determined, using a volume-weighted average price method, by a nationally recognized independent investment banking firm we select, which may be any of the underwriters). The daily VWAP will be determined without regard to after-hours trading
or any other trading outside of the regular trading session.

“Default” means any event that is (or, after notice, passage of time or both,
would be) an event of default.

“Default interest” has the meaning set forth above under the caption “—Events of Default—Default
Interest.”

“Depositary procedures” means, with respect to any conversion, transfer, exchange or other transaction involving a global note
or any beneficial interest therein, the rules and procedures of the depositary applicable to such conversion, transfer, exchange or transaction.

“DTC” means The Depository Trust Company.

S-52

“Ex-dividend date” means, with respect to an issuance,
dividend or distribution on our common stock, the first date on which shares of our common stock trade on the applicable exchange or in the applicable market, regular way, without the right to receive such issuance,