Company: CIFRW
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001193125-25-124285
Chunk: 30

Company: Cipher Mining Inc.
Filing Date: 2025-05-22
Form: 424B5
Chunk 30
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 to recognize for the notes for accounting purposes will be greater than the cash interest payments we will pay on the notes, which will result in lower reported net   
 income or larger reported net loss.                                                                                                                                                                                                                     |

S-17

Dividend Policy

Holders of each share of common stock are entitled to dividends when, as and if declared by our board of directors. As of March 31, 2025, the Company had
not declared any dividends.

We do not currently intend to pay any cash dividends for the foreseeable future. We expect to retain future earnings, if any,
to fund the development and growth of our business. Any future determination to pay dividends on our common stock will be at the discretion of our board of directors and will depend upon, among other factors, our financial condition, operating
results, current and anticipated cash needs, plans for expansion and other factors that our board of directors may deem relevant.

S-18

Description of Notes We will issue the notes under an indenture (the “base indenture”), to be dated as of the initial closing date of this offering, between us and U.S. Bank Trust Company, National Association, as trustee (the “trustee”), as supplemented by a supplemental indenture (the base indenture, as so supplemented, the “indenture”), to be dated as of the initial closing date of this offering, between us and the trustee. The following is a summary of certain provisions of the notes and the indenture. It is only a summary and is not complete. We qualify this summary by referring you to the indenture and the notes, because they, and not this summary, define your rights as a holder of the notes. We will provide you with a copy of the indenture, which includes the form of the notes, as provided under the caption “Where You Can Find Additional Information.” In addition, the indenture and the notes will be deemed to include certain terms that are made a part of the indenture and the notes pursuant to the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act”). This “Description of Notes” section supplements and, to the extent inconsistent therewith, supersedes the information in the accompanying prospectus under the caption “Description of Debt Securities.” Certain terms used in this summary are defined below under the caption “—Definitions.” Certain other terms used in this summary are defined in the indenture. In this section, references to (i) “we,” “us” and “our