<SEC-DOCUMENT>0001123292-25-000458.txt : 20250922
<SEC-HEADER>0001123292-25-000458.hdr.sgml : 20250922
<ACCEPTANCE-DATETIME>20250922171535
ACCESSION NUMBER:		0001123292-25-000458
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250918
FILED AS OF DATE:		20250922
DATE AS OF CHANGE:		20250922

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:		251330898

	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:		251330900

	BUSINESS ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		STRAWINSKYLAAN 3051
		CITY:			AMSTERDAM, NOORD-HOLLAND
		PROVINCE COUNTRY:   	P7
		ZIP:			1077ZX
		BUSINESS PHONE:		44.20.7710.5833

	MAIL ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		STRAWINSKYLAAN 3051
		CITY:			AMSTERDAM, NOORD-HOLLAND
		PROVINCE COUNTRY:   	P7
		ZIP:			1077ZX

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:		251330897

	BUSINESS ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		C/O FIELDFISHER RIVERBANK HOUSE
		STREET 2:		2 SWAN LANE
		CITY:			LONDON
		PROVINCE COUNTRY:   	X0
		ZIP:			EC4R3AD
		BUSINESS PHONE:		44.20.7710.5833

	MAIL ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		C/O FIELDFISHER RIVERBANK HOUSE
		STREET 2:		2 SWAN LANE
		CITY:			LONDON
		PROVINCE COUNTRY:   	X0
		ZIP:			EC4R3AD

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:		251330901

	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:		251330899

	BUSINESS ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		STRAWINSKYLAAN 3051
		CITY:			AMSTERDAM, NOORD-HOLLAND
		PROVINCE COUNTRY:   	P7
		ZIP:			1077 ZX
		BUSINESS PHONE:		44.20.7710.5833

	MAIL ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		STRAWINSKYLAAN 3051
		CITY:			AMSTERDAM, NOORD-HOLLAND
		PROVINCE COUNTRY:   	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4.xml
<DESCRIPTION>STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-09-18</periodOfReport>

    <issuer>
        <issuerCik>0001819989</issuerCik>
        <issuerName>Cipher Mining Inc.</issuerName>
        <issuerTradingSymbol>CIFR</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001887845</rptOwnerCik>
            <rptOwnerName>V3 Holding Ltd</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>4TH FL HARBOUR PL 103 S CHURCH ST, 10240</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>GRAND CAYMAN</rptOwnerCity>
            <rptOwnerState>E9</rptOwnerState>
            <rptOwnerZipCode>KY1-1002</rptOwnerZipCode>
            <rptOwnerStateDescription>CAYMAN ISLANDS</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001884407</rptOwnerCik>
            <rptOwnerName>Bitfury Top HoldCo B.V.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>STRAWINSKYLAAN 3051</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>AMSTERDAM</rptOwnerCity>
            <rptOwnerState>P7</rptOwnerState>
            <rptOwnerZipCode>1077 ZX</rptOwnerZipCode>
            <rptOwnerStateDescription>NETHERLANDS</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001887853</rptOwnerCik>
            <rptOwnerName>Bitfury Holding B.V.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>STRAWINSKYLAAN 3051</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>AMSTERDAM</rptOwnerCity>
            <rptOwnerState>P7</rptOwnerState>
            <rptOwnerZipCode>1077 ZX</rptOwnerZipCode>
            <rptOwnerStateDescription>NETHERLANDS</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001887811</rptOwnerCik>
            <rptOwnerName>Vavilovs Valerijs</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>2102 CHEDDAR CHEESE TOWER, PO BOX 712650</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>DUBAI</rptOwnerCity>
            <rptOwnerState>C0</rptOwnerState>
            <rptOwnerZipCode></rptOwnerZipCode>
            <rptOwnerStateDescription>UNITED ARAB EMIRATES</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001887872</rptOwnerCik>
            <rptOwnerName>Bitfury Group Ltd</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>FIELDFISHER RIVERBANK HOUSE, 2 SWAN LANE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>LONDON</rptOwnerCity>
            <rptOwnerState>X0</rptOwnerState>
            <rptOwnerZipCode>EC4R 3TT</rptOwnerZipCode>
            <rptOwnerStateDescription>UNITED KINGDOM</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-09-18</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>900000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>11.79</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>78542259</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F7"/>
                    <footnoteId id="F8"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-09-19</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>849199</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>12.35</value>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>77693060</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F7"/>
                    <footnoteId id="F8"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-09-19</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>50801</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>12.75</value>
                    <footnoteId id="F3"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>77642259</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F7"/>
                    <footnoteId id="F8"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-09-22</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>697769</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>12.59</value>
                    <footnoteId id="F4"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>76944490</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F7"/>
                    <footnoteId id="F8"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-09-22</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>192269</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>13.71</value>
                    <footnoteId id="F5"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>76752221</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F7"/>
                    <footnoteId id="F8"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-09-22</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>9962</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>14.15</value>
                    <footnoteId id="F6"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>76742259</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F7"/>
                    <footnoteId id="F8"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The price reported in Column 4 represents a weighted average sales price of $11.7859. These shares were sold in multiple transactions at prices ranging from $11.45 to $12.26, 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 through 6 of this Form 4.</footnote>
        <footnote id="F2">The price reported in Column 4 represents a weighted average sales price of $12.3497. These shares were sold in multiple transactions at prices ranging from $11.72 to $12.719, inclusive.</footnote>
        <footnote id="F3">The price reported in Column 4 represents a weighted average sales price of $12.7502. These shares were sold in multiple transactions at prices ranging from $12.72 to $12.8167, inclusive.</footnote>
        <footnote id="F4">The price reported in Column 4 represents a weighted average sales price of $12.5879. These shares were sold in multiple transactions at prices ranging from $12.12 to $13.11, inclusive.</footnote>
        <footnote id="F5">The price reported in Column 4 represents a weighted average sales price of $13.7075. These shares were sold in multiple transactions at prices ranging from $13.12 to $14.113, inclusive.</footnote>
        <footnote id="F6">The price reported in Column 4 represents a weighted average sales price of $14.1491. These shares were sold in multiple transactions at prices ranging from $14.12 to $14.1939, inclusive.</footnote>
        <footnote id="F7">Bitfury Holding B.V. is the record holder of 4,821,560 shares of Common Stock. Bitfury Top HoldCo B.V. (&quot;Bitfury Top HoldCo&quot;) is the record holder of 36,511,544 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 (&quot;V3&quot;) is the direct holder of 35,409,155 shares of Common Stock. Valerijs Vavilovs is the sole owner of V3, which is the majority owner of Bitfury Group Limited (&quot;BGL&quot;). BGL is the sole owner of Bitfury Top HoldCo. [Continued]</footnote>
        <footnote id="F8">[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.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Stijn Ehren, Managing Director of Bitfury Top HoldCo B.V., By: /s/ Stijn Ehren</signatureName>
        <signatureDate>2025-09-22</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Stijn Ehren, Managing Director of Bitfury Holding B.V., By: /s/ Stijn Ehren</signatureName>
        <signatureDate>2025-09-22</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Valerijs Vavilovs, Director of Bitfury Group Limited, By: /s/ Valerijs Vavilovs</signatureName>
        <signatureDate>2025-09-22</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Valerijs Vavilovs, Director of V3 Holding Limited, By: /s/ Valerijs Vavilovs</signatureName>
        <signatureDate>2025-09-22</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Valerijs Vavilovs, By: /s/ Valerijs Vavilovs</signatureName>
        <signatureDate>2025-09-22</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
