Company: CIFRW
Filing Date: 2025-05-23
Form Type: 424B5
Source: 0001193125-25-125868
Chunk: 1

Company: Cipher Mining Inc.
Filing Date: 2025-05-23
Form: 424B5
Chunk 1
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 share and to subsequently offer the shares of
our common stock for sale in one or more transactions on the Nasdaq Global Select Market (“Nasdaq”), in the over-the-counter market, through negotiated
transactions or otherwise, at market prices prevailing at the time of sale, at prices related to prevailing market prices at the time of sale or at negotiated prices. For further details, see “Summary—The Offering.”

We will not receive any proceeds from the sales by the Underwriter in this offering. No new shares of common stock will be issued in this
offering. You should read this prospectus supplement, as well as the documents incorporated and deemed to be incorporated by reference in this prospectus supplement, carefully before you invest.

Concurrently with this offering, we are offering Notes in an aggregate principal amount of $150,000,000, plus up to an additional $22,500,000 aggregate
principal amount of Notes that the underwriters of the Concurrent Notes Offering have the option to purchase from us. The Concurrent Notes Offering is being made pursuant to a separate prospectus supplement and accompanying base prospectus (and not
pursuant to this prospectus supplement). The completion of this offering is contingent upon the completion of the Concurrent Notes Offering, and the completion of the Concurrent Notes Offering is contingent upon the completion of this offering. This
prospectus supplement does not constitute an offer to sell, or the solicitation of an offer to buy, any of the Notes, or the shares of common stock, if any, issuable upon conversion of the Notes, we are offering in the Concurrent Notes Offering.

We will pay the Underwriter a fee of $0.0570 per share for the shares of our common stock sold by the Underwriter in this offering. See
“Underwriting” for a description of the compensation payable to the Underwriter.

Unless otherwise stated or the context otherwise
indicates, all references to “Cipher,” “Cipher Mining,” “we,” “us,” “our,” and the “Company” or similar expressions refer to Cipher Mining Inc. and its consolidated subsidiaries. Our common
stock and public warrants are listed on Nasdaq under the symbols “CIFR” and “CIFRW”, respectively. The last reported sales price of our common stock and our public warrants on Nasdaq on May 20, 2025 was $3.78 per share and $0.58
per warrant.

Investing in our common stock involves risks. See “ Risk Factors” beginning on page S-6