Company: CIFRW
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001193125-25-124290
Chunk: 11

Company: Cipher Mining Inc.
Filing Date: 2025-05-22
Form: 424B5
Chunk 11
---
 common stock through a derivative, in an equivalent notional amount, in each case, with a view for the Underwriter to initially offer the shares of our common stock to the public at a  
 price of $3.42 per share of our common stock and to subsequently offer the shares of our common stock for sale in one or more transactions on Nasdaq, in the                                                                                           
 over-the-counter market, through negotiated transactions or otherwise, at market prices prevailing at the time of sale, at prices                                                                                                                      |

S-4

| related to prevailing market prices or at negotiated prices. See “Underwriting” for additional information. |

| Risk Factors | You should carefully read and consider the information set forth under the heading “Risk Factors” beginning on page S-6 and all other information set forth in this prospectus supplement, as well                                        
 as the accompanying base prospectus and the documents incorporated by reference that are described under “Incorporation of Certain Information by Reference” in this prospectus supplement before deciding to invest in our common stock. |

S-5

RISK FACTORS

An investment in our securities involves a high degree of risk. You should carefully consider the risks described below, as well as those risk factors described under the heading “Risk Factors” in our most recent Annual Report on Form 10-Kfor the year ended December 31, 2024 and Quarterly Report on Form 10-Qfor the quarter ended March 31, 2025, which are incorporated by reference herein, together with all of the other information included in this prospectus supplement, the accompanying base prospectus and the documents we incorporate by reference, in evaluating an investment in our securities. Our business, prospects, financial condition or operating results could be harmed by any of these risks, as well as other risks not currently known to us or that we currently consider immaterial. The trading price of our common stock could decline due to any of these risks, and, as a result, you may lose all or part of your investment. Before deciding whether to invest in our securities, you should also refer to the other information contained in or incorporated by reference into this prospectus supplement, including the section entitled “Cautionary Note Regarding Forward-Looking Statements.”

Risks Related to this Offering

The offer and sale of our shares of common stock in this offering, which such offer and sale are being executed to facilitate the initial hedging transactions by the Convertible Arbitrage Investors subscribing for our Notes in the Concurrent Notes Offering, may have a negative effect on