Company: CIFRW
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001193125-25-124285
Chunk: 94

Company: Cipher Mining Inc.
Filing Date: 2025-05-22
Form: 424B5
Chunk 94
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i) accrue ordinary interest income at a higher rate than the stated interest rate, and (ii) treat as ordinary income rather than capital gain any gain recognized on a disposition of a note (including any gain realized on the conversion of a note). The remainder of this discussion assumes that the notes will not be treated as contingent payment debt instruments. You should consult your tax advisor regarding the possible application of the contingent payment debt instrument rules to the notes. Tax Consequences to U.S. Holders The following summary will apply to you if you are a U.S. holder of the notes or common stock received upon conversion of a note. You are a “U.S. holder” for purposes of this discussion if you are a beneficial owner of a note or common stock received upon conversion of a note and you are for U.S. federal income tax purposes:

| • |     | an individual citizen or resident of the United States; |

| • |     | a corporation (or any other entity treated as a corporation for U.S. federal income tax purposes) created or 
 organized in or under the laws of the United States, any state thereof or the District of Columbia;          |

| • |     | an estate the income of which is subject to U.S. federal income taxation regardless of its source; or |

| • |     | a trust (i) the administration of which is subject to the primary supervision of a court within the United                                                                                                                             
 States and that has one or more “United States persons” (as defined in the Code) that have the authority to control all substantial decisions of the trust or (ii) if it has a valid election in effect under applicable U.S. Treasury 
 regulations to be treated as a United States person.                                                                                                                                                                                   |

Interest on the Notes Stated interest on a note will be taxable to you as ordinary income at the time it is received or accrued in accordance with your regular method of accounting for U.S. federal income tax purposes. It is expected, and this discussion assumes, that the notes will be issued without original issue discount for U.S. federal income tax purposes. S-61

Sale, Exchange, Redemption, Retirement or Other Taxable Disposition of the Notes

Except as provided below under “—Conversion of the Notes,” you will generally recognize capital gain or loss upon the sale, exchange,
redemption, retirement or other taxable disposition of a note equal to the difference (if any) between the amount realized on such disposition and your adjusted tax basis in the note. The amount realized