V3 Holding Ltd - Nov 3, 2025 Form 4 Insider Report for Cipher Mining Inc. (CIFR)

Role
10%+ Owner
Signature
Stijn Ehren, Managing Director of Bitfury Top HoldCo B.V., By: /s/ Stijn Ehren
Stock symbol
CIFR
Transactions as of
Nov 3, 2025
Transactions value $
$0
Form type
4
Date filed
11/5/2025, 05:08 PM
Previous filing
Oct 16, 2025
Next filing
Nov 18, 2025

Reporting Owners (5)

Name Relationship Address Signature Signature date CIK
V3 Holding Ltd 10%+ Owner 4TH FL HARBOUR PL 103 S CHURCH ST, 10240, GRAND CAYMAN, CAYMAN ISLANDS Stijn Ehren, Managing Director of Bitfury Top HoldCo B.V., By: /s/ Stijn Ehren 2025-11-05 0001887845
Bitfury Top HoldCo B.V. 10%+ Owner STRAWINSKYLAAN 3051, AMSTERDAM, NETHERLANDS Stijn Ehren, Managing Director of Bitfury Holding B.V., By: /s/ Stijn Ehren 2025-11-05 0001884407
Bitfury Holding B.V. 10%+ Owner STRAWINSKYLAAN 3051, AMSTERDAM, NETHERLANDS Valerijs Vavilovs, Director of Bitfury Group Limited, By: /s/ Valerijs Vavilovs 2025-11-05 0001887853
Vavilovs Valerijs 10%+ Owner 2102 CHEDDAR CHEESE TOWER, PO BOX 712650, DUBAI, UNITED ARAB EMIRATES Valerijs Vavilovs, Director of V3 Holding Limited, By: /s/ Valerijs Vavilovs 2025-11-05 0001887811
Bitfury Group Ltd 10%+ Owner FIELDFISHER RIVERBANK HOUSE, 2 SWAN LANE, LONDON, UNITED KINGDOM Valerijs Vavilovs, By: /s/ Valerijs Vavilovs 2025-11-05 0001887872

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction CIFR Forward sale contract (obligation to sell) Other +5.42M 5.42M Nov 3, 2025 Common Stock 5.42M Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On November 3, 2025, V3 Holding Limited ("V3") entered into a variable prepaid forward sale contract (the "Forward Contract") with an unaffiliated third-party dealer (the "Dealer") 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 "Pledged Shares") to secure its obligations under the Forward Contract. [Continued]
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 "Settlement Price") is less than or equal to $21.4881 (the "Floor Price"), 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 "Cap Price"), 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]
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).