Company: CIFRW
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001193125-25-124285
Chunk: 8

Company: Cipher Mining Inc.
Filing Date: 2025-05-22
Form: 424B5
Chunk 8
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 as of the date of this prospectus supplement. You should not place undue reliance on our forward-looking statements. Although forward-looking statements reflect our good faith beliefs at the time they are made, forward-looking statements involve known and unknown risks, uncertainties and other factors, including the factors described under Part I, Item 1A. “Risk Factors” of our Annual Report on Form 10-Kfor the year ended December 31, 2024, which may cause our actual results, performance or achievements to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, unless required by law. S-iii

Prospectus Supplement Summary

This summary provides a brief overview of information contained elsewhere in or incorporated by reference into this prospectus supplement. Because it is abbreviated, this summary does not contain all of the information that you should consider before investing in the notes. You should read this entire prospectus supplement and the base prospectus carefully before making an investment decision, including the information presented under the headings “Risk Factors” and “Cautionary Note Regarding Forward-looking Statements” appearing elsewhere in this prospectus supplement, and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in our Annual Report on Form 10-Kfor the year ended December 31, 2024 and our Quarterly Report on Form 10-Qfor the quarter ended March 31, 2025 and the historical consolidated financial statements and the related notes included or incorporated by reference in this prospectus supplement.

Except as otherwise indicated or required by the context, all references in this prospectus supplement to the “Company,” “Cipher,” “Cipher Mining,” “we,” “us” and “our” refer to Cipher Mining Inc. and its consolidated subsidiaries, unless otherwise indicated.

Company Overview

We develop and operate industrial-scale
data centers. Our active portfolio and development pipeline is expected to consist of more than 3.0 GW of capacity across 11 sites. We currently operate one wholly-owned 207 MW bitcoin mining data center, have equity investments in three
partially-owned 40 MW bitcoin mining data centers, and have a pipeline of approximately 2.8 GW across seven additional sites in Texas, including one 300 MW data center at which we plan to energize 150 MW of bitcoin mining in June 2025. As we develop
the sites in our