Company: CIFRW
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001193125-25-124285
Chunk: 90

Company: Cipher Mining Inc.
Filing Date: 2025-05-22
Form: 424B5
Chunk 90
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 represented by that global note for all purposes under the indenture. Except as provided below, owners of beneficial interests in a global note:

| • |     | will not be entitled to have notes represented by the global note registered in their names; |

| • |     | will not receive or be entitled to receive physical, certificated notes; and |

| • |     | will not be considered the owners or holders of the notes under the indenture for any purpose. |

As a result, each investor who owns a beneficial interest in a global note must rely on the procedures of DTC (and, if the investor is not a participant or an indirect participant in DTC, on the procedures of the DTC participant through whom the investor owns its interest) to exercise any rights of a noteholder under the indenture. Payments on any global notes will be made to DTC’s nominee as the registered holder of the global note. None of us, the trustee or any of the underwriters will have any responsibility or liability for the payment of amounts to owners of beneficial interests in a global note, for any aspect of the records relating to, or payments made on account of, those interests by DTC or for maintaining, supervising or reviewing any records of DTC relating to those interests. Payments by participants and indirect participants in DTC to the owners of beneficial interests in a global note will be governed by standing instructions and customary industry practice and will be the responsibility of those participants or indirect participants and DTC. Transfers between participants in DTC will be effected under DTC’s procedures and will be settled in same-dayfunds. Physical Notes A global note will be exchanged, pursuant to customary procedures, for one or more physical notes only if:

| • |     | DTC notifies us or the trustee that it is unwilling or unable to continue as depositary for such global note or                                                                                
 DTC ceases to be a “clearing agency” registered under Section 17A of the Exchange Act and, in each case, we fail to appoint a successor depositary within 90 days of such notice or cessation; |

| • |     | an event of default has occurred and is continuing and we, the trustee or the registrar has received a written                                                                          
 request from DTC, or from a holder of a beneficial interest in such global note, to exchange such global note or beneficial interest, as applicable, for one or more physical notes; or |

| • |     | we, in our sole discretion, permit the