Company: CIFRW
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001193125-25-124285
Chunk: 92

Company: Cipher Mining Inc.
Filing Date: 2025-05-22
Form: 424B5
Chunk 92
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 not obtained, nor do we intend to obtain, a ruling from the IRS with respect to the U.S. federal income tax consequences of acquiring, owning, converting or disposing of the notes or owning or disposing of any shares of our common stock received upon conversion of a note. This discussion is limited to holders who purchase the notes in this offering for cash at a price equal to the issue price of the notes (i.e., the first price at which a substantial amount of the notes is sold for cash to persons other than bond houses, brokers or similar persons or organizations acting in the capacity of underwriters, placement agents or wholesalers) and who hold the notes or our common stock received upon conversion of a note as capital assets (generally, property held for investment). This discussion does not address the Medicare tax on net investment income or any U.S. federal tax considerations (such as U.S. federal estate and gift tax considerations) other than U.S. federal income tax considerations, or the tax considerations arising under the laws of any state, local or non-U.S.jurisdiction or under any applicable income tax treaty. In addition, this discussion does not address all tax considerations that may be relevant to beneficial owners of a note or our common stock in light of their particular circumstances, or to certain categories of holders that may be subject to special rules, such as:

| • |     | dealers in securities; |

| • |     | banks or other financial institutions; |

| • |     | regulated investment companies or real estate investment trusts; |

| • |     | tax-exempt or governmental organizations; |

| • |     | insurance companies; |

| • |     | traders in securities that elect to use a                     
 mark-to-market method of tax accounting for their securities; |

| • |     | persons that hold the notes or our common stock as a part of a straddle, appreciated financial position,        
 synthetic security, hedge, conversion transaction or other integrated investment or risk reduction transaction; |

| • |     | “controlled foreign corporations,” “passive foreign investment companies,” and corporations 
 that accumulate earnings to avoid U.S. federal income tax;                                  |

| • |     | persons deemed to sell the notes or our common stock under the constructive sale provisions of the Code; |

| • |     | U.S. persons whose “functional currency” is not the U.S. dollar; |

| • |     | partnerships and other entities treated as pass-through entities for U.S. federal income tax purposes and holders 
 of interests therein