<SEC-DOCUMENT>0001123292-25-000611.txt : 20251105
<SEC-HEADER>0001123292-25-000611.hdr.sgml : 20251105
<ACCEPTANCE-DATETIME>20251105170829
ACCESSION NUMBER:		0001123292-25-000611
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20251103
FILED AS OF DATE:		20251105
DATE AS OF CHANGE:		20251105

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:		251455050

	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:		251455052

	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:		251455049

	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:		251455053

	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:		251455051

	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>2025-11-03</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>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Forward sale contract (obligation to sell)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F1"/>
                <footnoteId id="F2"/>
                <footnoteId id="F3"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2025-11-03</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
                <footnoteId id="F2"/>
                <footnoteId id="F3"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>5415000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
                <footnoteId id="F2"/>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F1"/>
                <footnoteId id="F2"/>
                <footnoteId id="F3"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>5415000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5415000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">On November 3, 2025, V3 Holding Limited (&quot;V3&quot;) entered into a variable prepaid forward sale contract (the &quot;Forward Contract&quot;) with an unaffiliated third-party dealer (the &quot;Dealer&quot;) covering a maximum of 5,415,000 shares of Common Stock. The Forward Contract obligates V3 to deliver to the Dealer up to 1,805,000 shares of Common Stock in each of three tranches within one business day after each of the three maturity dates of the Forward Contract (September 25, 2026, October 23, 2026 and November 30, 2026), for an aggregate amount of up to 5,415,000 shares. In exchange for assuming this obligation, V3 received a cash payment of $100.0 million in connection with the entry into the Forward Contract. The reporting person pledged 5,415,000 shares of Common Stock (the &quot;Pledged Shares&quot;) to secure its obligations under the Forward Contract. [Continued]</footnote>
        <footnote id="F2">[Cont.] The number of shares of Common Stock to be delivered to the Dealer on each of the three maturity dates is to be determined as follows:(a) if the closing price of Common Stock during the trading day immediately preceding the maturity date (the &quot;Settlement Price&quot;) is less than or equal to $21.4881 (the &quot;Floor Price&quot;), the reporting person will deliver to the Dealer 1,805,000 shares; (b) if the Settlement Price is between the Floor Price and $32.2322 (the &quot;Cap Price&quot;), the reporting person will deliver to the Dealer a number of shares of Common Stock having a value (based on the then market price) equal to $38.8 million; and (c) if the Settlement Price is greater than the Cap Price, the reporting person will deliver to the Dealer a number of shares of Common Stock equal to 1,805,000 shares minus a number of shares of Common Stock having a value (based on the then market price) equal to $19.4 million. [Continued]</footnote>
        <footnote id="F3">[Cont.] V3 will retain economic and voting rights in the Pledged Shares during the term of the pledge (so long as no event of default or similar event occurs under the Forward Contract or the related pledge agreement).</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Stijn Ehren, Managing Director of Bitfury Top HoldCo B.V., By: /s/ Stijn Ehren</signatureName>
        <signatureDate>2025-11-05</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Stijn Ehren, Managing Director of Bitfury Holding B.V., By: /s/ Stijn Ehren</signatureName>
        <signatureDate>2025-11-05</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Valerijs Vavilovs, Director of Bitfury Group Limited, By: /s/ Valerijs Vavilovs</signatureName>
        <signatureDate>2025-11-05</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Valerijs Vavilovs, Director of V3 Holding Limited, By: /s/ Valerijs Vavilovs</signatureName>
        <signatureDate>2025-11-05</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Valerijs Vavilovs, By: /s/ Valerijs Vavilovs</signatureName>
        <signatureDate>2025-11-05</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
