Cipher Mining Prices Convertible Senior Notes Offering and Hedging Transaction to Place Borrowed Common Stock

NEW YORK, May 21, 2025 (GLOBE NEWSWIRE) -- Cipher Mining Inc. (NASDAQ: CIFR) (“Cipher” or the “Company”) today announced the pricing of its public offering of $150,000,000 aggregate principal amount of convertible senior notes due 2030 (the “notes”) in an offering registered under the Securities Act of 1933, as amended. The issuance and sale of the notes are scheduled to settle on May 22, 2025, subject to customary closing conditions. Cipher also granted the underwriters of the notes offering a 30-day option to purchase up to an additional $22,500,000 aggregate principal amount of notes solely to cover over-allotments. Morgan Stanley is acting as sole bookrunning manager for the offering. Keefe, Bruyette & Woods, A Stifel Company is acting as co-manager for the offering.

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