Company: CIFRW
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001193125-25-124285
Chunk: 116

Company: Cipher Mining Inc.
Filing Date: 2025-05-22
Form: 424B5
Chunk 116
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 such convertible arbitrage investors’
hedging of their market price with respect to the notes, which derivatives transactions are expected to be on customary market terms. Certain of the underwriters and their respective affiliates have, from time to time, performed, and may in the
future perform, various financial advisory and investment banking services for us, for which they received or will receive customary fees and expenses.

In addition, in the ordinary course of their business activities, the underwriters and their affiliates may make or hold a broad array of
investments and actively trade debt and equity securities (or related derivative securities) and financial instruments (including bank loans) for their own account and for the accounts of their customers. Such investments and securities activities
may involve securities and/or instruments of ours or our affiliates. The underwriters and their affiliates may also make investment recommendations and/or publish or express independent research views in respect of such securities or financial
instruments and may hold, or recommend to clients that they acquire, long and/or short positions in such securities and instruments.

S-74

Selling Restrictions EEA Restriction In relation to each Member State of the European Economic Area (each, a “Relevant State”), no notes have been offered or will be offered pursuant to the offering to the public in that Relevant State prior to the publication of a prospectus in relation to the notes which has been approved by the competent authority in that Relevant State or, where appropriate, approved in another Relevant State and notified to the competent authority in that Relevant State, all in accordance with the Prospectus Regulation, except that offers of notes may be made to the public in that Relevant State at any time under the following exemptions under the Prospectus Regulation:

| (a) | to any legal entity which is a qualified investor as defined under Article 2 of the Prospectus Regulation; |

| (b) | to fewer than 150 natural or legal persons (other than qualified investors as defined under Article 2 of the 
 Prospectus Regulation), subject to obtaining the prior consent of the representatives for any such offer; or |

| (c) | in any other circumstances falling within Article 1(4) of the Prospectus Regulation, |

provided that no such offer of notes shall require us or any representative to publish a prospectus pursuant to Article 3 of the Prospectus Regulation or supplement a prospectus pursuant to Article 23 of the Prospectus Regulation. For the purposes of this provision, the expression an “offer to the public” in relation to the shares in any Relevant