Company: CIFRW
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001193125-25-124290
Chunk: 1

Company: Cipher Mining Inc.
Filing Date: 2025-05-22
Form: 424B5
Chunk 1
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 invest.

Concurrently with this offering, we are offering Notes in an aggregate principal amount of $150,000,000, plus up to an additional $22,500,000 aggregate
principal amount of Notes that the underwriters of the Concurrent Notes Offering have the option to purchase from us. The Concurrent Notes Offering is being made pursuant to a separate prospectus supplement and accompanying base prospectus (and not
pursuant to this prospectus supplement). The completion of this offering is contingent upon the completion of the Concurrent Notes Offering, and the completion of the Concurrent Notes Offering is contingent upon the completion of this offering. This
prospectus supplement does not constitute an offer to sell, or the solicitation of an offer to buy, any of the Notes, or the shares of common stock, if any, issuable upon conversion of the Notes, we are offering in the Concurrent Notes Offering.

We will pay the Underwriter a fee of $0.0570 per share for the shares of our common stock sold by the Underwriter in this offering. See
“Underwriting” for a description of the compensation payable to the Underwriter.

Unless otherwise stated or the context otherwise
indicates, all references to “Cipher,” “Cipher Mining,” “we,” “us,” “our,” and the “Company” or similar expressions refer to Cipher Mining Inc. and its consolidated subsidiaries. Our common
stock and public warrants are listed on Nasdaq under the symbols “CIFR” and “CIFRW”, respectively. The last reported sales price of our common stock and our public warrants on Nasdaq on May 20, 2025 was $3.78 per share and $0.58
per warrant.

Investing in our common stock involves risks. See “ Risk Factors” beginning on page S-6of this prospectus supplement and page 7 of the accompanying base prospectus for a discussion of certain risks that you should consider in connection with an investment in our shares of common stock.

The Underwriter expects to deliver the shares of common stock sold in this offering in book-entry form through the Depository Trust
Company on or about May 22, 2025.

Neither the U.S. Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus supplement is truthful or complete. Any representation to the contrary is a criminal offense.

Book-Running Manager

Morgan Stanley

The date of this prospectus supplement is May 20, 2025.

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