# EDGAR Filing Document

**Accession Number:** 0001887845
**File Stem:** 0001062993-25-015041
**Filing Date:** 2025-8
**Character Count:** 14281
**Document Hash:** c1dea8bc74ee1b1d43fe516478d3d82a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001062993-25-015041.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001062993-25-015041

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250826

**FILED AS OF DATE**: 20250828

**DATE AS OF CHANGE**: 20250828

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Vavilovs Valerijs
- **CENTRAL INDEX KEY:** 0001887811

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39625
- **FILM NUMBER:** 251273763

**MAIL ADDRESS:**
- **STREET 1:** C/O CIPHER MINING INC.
- **STREET 2:** 222 PURCHASE STREET, SUITE #290
- **CITY:** RYE
- **STATE:** NY
- **ZIP:** 10580

**FORMER NAME:**
- **FORMER CONFORMED NAME:** Vavilovs Valerijis
- **DATE OF NAME CHANGE:** 20211013
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Bitfury Top HoldCo B.V.
- **CENTRAL INDEX KEY:** 0001884407

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** P7
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39625
- **FILM NUMBER:** 251273765

**BUSINESS ADDRESS:**
- **STREET 1:** STRAWINSKYLAAN 3051
- **CITY:** AMSTERDAM, NOORD-HOLLAND
- **STATE:** P7
- **ZIP:** 1077 ZX
- **BUSINESS PHONE:** 44.20.7710.5833

**MAIL ADDRESS:**
- **STREET 1:** STRAWINSKYLAAN 3051
- **CITY:** AMSTERDAM, NOORD-HOLLAND
- **STATE:** P7
- **ZIP:** 1077 ZX
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Bitfury Group Ltd
- **CENTRAL INDEX KEY:** 0001887872

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** X0
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39625
- **FILM NUMBER:** 251273762

**BUSINESS ADDRESS:**
- **STREET 1:** C/O FIELDFISHER RIVERBANK HOUSE
- **STREET 2:** 2 SWAN LANE
- **CITY:** LONDON
- **STATE:** X0
- **ZIP:** EC4R 3TT
- **BUSINESS PHONE:** 44.20.7710.5833

**MAIL ADDRESS:**
- **STREET 1:** C/O FIELDFISHER RIVERBANK HOUSE
- **STREET 2:** 2 SWAN LANE
- **CITY:** LONDON
- **STATE:** X0
- **ZIP:** EC4R 3TT
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** V3 Holding Ltd
- **CENTRAL INDEX KEY:** 0001887845

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39625
- **FILM NUMBER:** 251273766

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 4TH FLOOR, HARBOUR PLACE
- **STREET 2:** 103 SOUTH CHURCH STREET, P.O. BOX 10240
- **CITY:** GRAND CAYMAN
- **PROVINCE COUNTRY:** E9
- **ZIP:** KY1-1002
- **BUSINESS PHONE:** 31.6.2994.4888

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 4TH FLOOR, HARBOUR PLACE
- **STREET 2:** 103 SOUTH CHURCH STREET, P.O. BOX 10240
- **CITY:** GRAND CAYMAN
- **PROVINCE COUNTRY:** E9
- **ZIP:** KY1-1002
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Bitfury Holding B.V.
- **CENTRAL INDEX KEY:** 0001887853

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** P7
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39625
- **FILM NUMBER:** 251273764

**BUSINESS ADDRESS:**
- **STREET 1:** STRAWINSKYLAAN 3051
- **CITY:** AMSTERDAM, NOORD-HOLLAND
- **STATE:** P7
- **ZIP:** 1077 ZX
- **BUSINESS PHONE:** 44.20.7710.5833

**MAIL ADDRESS:**
- **STREET 1:** STRAWINSKYLAAN 3051
- **CITY:** AMSTERDAM, NOORD-HOLLAND
- **STATE:** P7
- **ZIP:** 1077 ZX
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Cipher Mining Inc.
- **CENTRAL INDEX KEY:** 0001819989
- **STANDARD INDUSTRIAL CLASSIFICATION:** FINANCE SERVICES [6199]
- **ORGANIZATION NAME:** 09 Crypto Assets
- **EIN:** 851614529
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 1 VANDERBILT AVENUE
- **STREET 2:** FLOOR 54
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 332-262-2300

**MAIL ADDRESS:**
- **STREET 1:** 1 VANDERBILT AVENUE
- **STREET 2:** FLOOR 54
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GOOD WORKS ACQUISITION CORP.
- **DATE OF NAME CHANGE:** 20200803

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>V3 Holding Ltd<br><sub>(Last) (First) (Middle)</sub><br>4TH FL HARBOUR PL 103 S CHURCH ST, 10240<br><sub>(Street)</sub><br>GRAND CAYMAN, E9 KY1-1002<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-08-26 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Cipher Mining Inc. [ CIFR ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Bitfury Top HoldCo B.V.<br><sub>(Last) (First) (Middle)</sub><br>STRAWINSKYLAAN 3051<br><sub>(Street)</sub><br>AMSTERDAM, P7 1077 ZX<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-08-26 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Cipher Mining Inc. [ CIFR ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Bitfury Holding B.V.<br><sub>(Last) (First) (Middle)</sub><br>STRAWINSKYLAAN 3051<br><sub>(Street)</sub><br>AMSTERDAM, P7 1077 ZX<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-08-26 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Cipher Mining Inc. [ CIFR ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Vavilovs Valerijs<br><sub>(Last) (First) (Middle)</sub><br>2102 CHEDDAR CHEESE TOWER, PO BOX 712650<br><sub>(Street)</sub><br>DUBAI, C0 <br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-08-26 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Cipher Mining Inc. [ CIFR ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Bitfury Group Ltd<br><sub>(Last) (First) (Middle)</sub><br>FIELDFISHER RIVERBANK HOUSE, 2 SWAN LANE<br><sub>(Street)</sub><br>LONDON, X0 EC4R 3TT<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-08-26 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Cipher Mining Inc. [ CIFR ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock | 2025-08-26 |  | S |  | 700000 | D | 6.81<sup>(1)</sup> | 90242259 | I | See Footnote<sup>(3)(4)</sup> |
| Common Stock | 2025-08-27 |  | S |  | 500000 | D | 7.07<sup>(2)</sup> | 89742259 | I | See Footnote<sup>(3)(4)</sup> |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

---

### Footnotes:

(1) The price reported in Column 4 represents a weighted average sales price of $6.8107. These shares were sold in multiple transactions at prices ranging from $6.4927 to $7.125, inclusive. The reporting person undertakes to provide to Cipher Mining Inc., any security holder of Cipher Mining Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the ranges set forth in footnotes 1 and 2 of this Form 4.

(2) The price reported in Column 4 represents a weighted average sales price of $7.0726. These shares were sold in multiple transactions at prices ranging from $6.9603 to $7.2264, inclusive.

(3) Bitfury Holding B.V. is the record holder of 4,821,560 shares of Common Stock. Bitfury Top HoldCo B.V. ("Bitfury Top HoldCo") is the record holder of 43,811,544 shares of Common Stock and is the sole owner of Bitfury Holding B.V. As a result, Bitfury Top HoldCo may be deemed to share beneficial ownership of the shares of Common Stock held by Bitfury Holding B.V. V3 Holding Limited ("V3") is the direct holder of 41,109,155 shares of Common Stock. Valerijs Vavilovs is the sole owner of V3, which is the majority owner of Bitfury Group Limited ("BGL"). BGL is the sole owner of Bitfury Top HoldCo. [Continued]

(4) [Cont.] As a result of the foregoing relationships, each of Mr. Vavilovs, V3 and BGL may be deemed to share beneficial ownership of the Common Stock beneficially owned by Bitfury Top HoldCo, and Mr. Vavilovs may be deemed to have beneficial ownership of the Common Stock owned by V3. Each of Mr. Vavilovs, V3, Bitfury Top HoldCo, BGL and Bitfury Holding B.V. disclaim beneficial ownership of such shares except to the extent of their respective pecuniary interests therein.

**Signature:** Stijn Ehren, Managing Director of Bitfury Top HoldCo B.V., By: /s/ Stijn Ehren  
**Date:** 2025-08-28

**Signature:** Stijn Ehren, Managing Director of Bitfury Holding B.V., By: /s/ Stijn Ehren  
**Date:** 2025-08-28

**Signature:** Valerijs Vavilovs, Director of Bitfury Group Limited, By: /s/ Valerijs Vavilovs  
**Date:** 2025-08-28

**Signature:** Valerijs Vavilovs, Director of V3 Holding Limited, By: /s/ Valerijs Vavilovs  
**Date:** 2025-08-28

**Signature:** Valerijs Vavilovs, By: /s/ Valerijs Vavilovs  
**Date:** 2025-08-28

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**