Company: CIFRW
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001193125-25-124290
Chunk: 45

Company: Cipher Mining Inc.
Filing Date: 2025-05-22
Form: 424B5
Chunk 45
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 and physical degradation; |

4

| • |     | our automated processes with respect to curtailment; |

| • |     | the effects of damages to the properties in our mining network; |

| • |     | the impact of global market, economic and political conditions that are beyond our control; |

| • |     | our ability to manage our cash and cash equivalents; |

| • |     | the effects of cybersecurity threats, such as cyber-attacks, data breaches, hacking attacks or malware, targeting 
 us or our third-party service providers;                                                                          |

| • |     | the effects of fluctuations in the value of bitcoin; and |

| • |     | our ability to manage regulatory changes. |

The forward-looking statements contained in this prospectus are based on our current expectations and beliefs concerning future developments and their potential effects on us. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described under the heading “ Risk Factors.” Should one or more of these risks or uncertainties materialize, or should any of the assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. You should read this prospectus and the documents that we reference in this prospectus and have filed with the SEC as exhibits to the registration statement of which this prospectus is a part with the understanding that our actual future results, levels of activity, performance and events and circumstances may be materially different from what we expect. 5

THE COMPANY

We are an emerging technology company that develops and operates industrial scale bitcoin mining data centers. Bitcoin mining is our principal revenue
generating business activity.

We currently operate four bitcoin mining data centers in Texas, including one wholly-owned and three partially-owned data
centers acquired through investments in joint ventures. Our largest data center is the Odessa data center (the “Odessa Facility”), which is our wholly-owned 207 MW facility located in Odessa, Texas. We also jointly operate the Alborz data
center located near Happy, Texas, Bear data center and