Company: CIFRW
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001193125-25-124285
Chunk: 49

Company: Cipher Mining Inc.
Filing Date: 2025-05-22
Form: 424B5
Chunk 49
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 (3)(a) and under the caption “—Stockholder Rights Plans”                
 will apply) entitling such holders, for a period of not more than 60 calendar days after the record date of such distribution, to subscribe for or purchase shares of our common stock at a price per share that is less than the average of the last 
 reported sale prices per share of our common stock for the 10 consecutive trading days ending on, and including, the trading day immediately before the date such distribution is announced, then the conversion rate will be increased based on the  
 following formula:                                                                                                                                                                                                                                    |

where:

| CR0 |     | = |     | the conversion rate in effect immediately before the open of business on the ex-dividend date for such distribution;                                                                                                           |
| CR1 |     | = |     | the conversion rate in effect immediately after the open of business on such ex-dividend date;                                                                                                                                 |
| OS  |     | = |     | the number of shares of our common stock outstanding immediately before the open of business on such ex-dividend date;                                                                                                         |
| X   |     | = |     | the total number of shares of our common stock issuable pursuant to such rights, options or warrants; and                                                                                                                      |
| Y   |     | = |     | a number of shares of our common stock obtained by dividing (x) the aggregate price payable to exercise such rights, options or warrants by (y) the average of the last reported sale prices per share of our common stock for 
 the 10 consecutive trading days ending on, and including, the trading day immediately before the date such distribution is announced.                                                                                          |

To the extent such rights, options or warrants are not so distributed, the conversion rate will be readjusted to the conversion rate that would then be in effect had the increase to the conversion rate for such distribution been made on the basis of only the rights, options or warrants, if any, actually distributed. In addition, to the extent that shares of our common stock are not delivered after the expiration of such rights, options or warrants (including as a result of such rights, options or warrants not being exercised), the conversion rate will be readjusted to the conversion rate that would then be in effect had the increase to the conversion rate S-31

for such distribution been made on the basis of delivery of only the number of shares of our common stock actually delivered upon exercise of such rights, options or warrants. For purposes of this paragraph (2)