Company: CIFRW
Filing Date: 2025-05-23
Form Type: 424B5
Source: 0001193125-25-125868
Chunk: 19

Company: Cipher Mining Inc.
Filing Date: 2025-05-23
Form: 424B5
Chunk 19
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 to certain limitations described below), at our option at any time, and from time to time, on or after May 22, 2028 and on or before the 30th scheduled trading day immediately before the maturity date, at a cash
redemption price equal to the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date, but only if the last reported sale price per share of our common stock exceeds 130% of the
conversion price for a specified period of time. However, we may not redeem less than all of the outstanding Notes unless at least $50.0 million aggregate principal amount of Notes are outstanding and not called for redemption as of the time we
send the related redemption notice.

Unless prior to May 15, 2028 we have issued a notice of redemption in respect of all
then-outstanding notes, each noteholder will have the right to require us to repurchase such noteholder’s notes (or any portion thereof in

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an authorized denomination) on May 15, 2028 for cash in an amount equal to the principal amount of the note to be repurchased plus accrued and unpaid interest, if any, to, but excluding, the
repurchase date.

If a “fundamental change” (which will be defined in the indenture that will govern the Notes to include
certain change-of-control events and the delisting of our common stock) occurs, then, subject to a limited exception, noteholders may require us to repurchase their
Notes for cash. The repurchase price will be equal to the principal amount of the Notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the repurchase date.

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MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS FOR NON-U.S.HOLDERS The following is a summary of the material U.S. federal income tax considerations related to the purchase, ownership and disposition of our common stock by a non-U.S.holder (as defined below) that holds our common stock as a “capital asset” within the meaning of Section 1221 of the Internal Revenue Code of 1986, as amended (the “Code”) (generally, property held for investment). This summary is based on the provisions of the Code, U.S. Treasury regulations promulgated thereunder, administrative rulings and judicial decisions, all as in effect on the date