Company: CIFRW
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001193125-25-124285
Chunk: 43

Company: Cipher Mining Inc.
Filing Date: 2025-05-22
Form: 424B5
Chunk 43
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 such redemption price in full). Conversions During Free Convertibility Period A noteholder may convert its notes at any time from, and including, February 15, 2030 until the close of business on the second scheduled trading day immediately before the maturity date. Conversion Procedures To convert a beneficial interest in a global note, the owner of the beneficial interest must:

| • |     | comply with the depositary procedures for converting the beneficial interest (at which time such conversion will 
 become irrevocable);                                                                                             |

| • |     | if applicable, pay any interest payable on the next interest payment date, as described above under the caption 
 “—Treatment of Interest Upon Conversion”; and                                                                   |

| • |     | if applicable, pay any documentary or other taxes as described below. |

To convert all or a portion of a physical note, the holder of such note must:

| • |     | complete, manually sign and deliver to the conversion agent the conversion notice attached to such note or a 
 facsimile of such conversion notice;                                                                         |

S-27

| • |     | deliver such note to the conversion agent (at which time such conversion will become irrevocable); |

| • |     | furnish any endorsements and transfer documents that we or the conversion agent may require; |

| • |     | if applicable, pay any interest payable on the next interest payment date, as described above under the caption 
 “—Treatment of Interest Upon Conversion”; and                                                                   |

| • |     | if applicable, pay any documentary or other taxes as described below. |

Notes may be surrendered for conversion only after the “open of business” (as defined below under the caption “—Definitions”) and before the close of business on a day that is a business day. We will pay any documentary, stamp or similar issue or transfer tax or duty due on the issue or delivery of any shares of our common stock upon conversion. However, if any tax or duty is due because the converting noteholder requests those shares to be registered in a name other than such noteholder’s name, then such noteholder must pay such tax or duty. We refer to the first business day on which the requirements described above to convert a note are satisfied as the “conversion date,” subject to the provision described in the last sentence under the caption “—Settlement Upon Conversion—Delivery of the Conversion Consideration.” If a noteholder has validly delivered a “fundamental change repurchase notice” (as defined below under