Company: CIFRW
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001193125-25-124285
Chunk: 104

Company: Cipher Mining Inc.
Filing Date: 2025-05-22
Form: 424B5
Chunk 104
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 under any applicable income tax treaty.

Distributions and Constructive Distributions

Subject to the discussion below of withholding requirements under FATCA and effectively connected dividends, any distribution made
to you on our common stock and any deemed distributions resulting from certain adjustments to, or a failure to adjust (or to adjust adequately), the conversion rate of the notes (see “—Tax Consequences to U.S. Holders—Constructive
Distributions” above), in each case, that are treated as dividends for U.S. federal income tax purposes (see “—Tax Consequences to U.S. Holders—Distributions on Common Stock” above) generally will be subject to U.S. federal
withholding tax at a rate of 30% of the gross amount of the distribution unless an applicable income tax treaty provides for a lower rate. However, the applicable withholding agent may generally withhold on the entire distribution (including any
portion that is not treated as a dividend), in which case a non-U.S. holder generally would be entitled to a refund from the IRS by timely filing an appropriate claim for a refund, to the extent the
withholding exceeds such non-U.S. holder’s tax liability with respect to the distribution. In the case of a deemed distribution resulting from certain adjustments to, or a failure to adjust (or to adjust
adequately), the conversion rate, such withholding may be withheld from or set off against subsequent payments on the notes or our common stock owned by you or from any proceeds of any subsequent sale, exchange or other disposition of such notes
(including the retirement of such notes), such common stock or other funds or assets held by you. To receive the benefit of a reduced treaty rate, you must provide the applicable withholding agent with a properly executed IRS Form W-8BEN or IRS Form W-8BEN-E (or other applicable or successor form) certifying qualification for the reduced rate.

Dividends (including deemed dividends) that are effectively connected with your conduct of a trade or business within the United States, unless an applicable
income tax treaty provides otherwise, generally will be taxed on a net income basis at the rates and in the manner generally applicable to United States persons. Such effectively

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connected dividends will not be subject to U.S. federal withholding tax if you satisfy certain certification requirements by providing the applicable withholding agent with a properly executed IRS Form W-8ECI(or other applicable or successor form) certifying eligibility for exemption. In addition, if you are a foreign corporation