Bitfury Top HoldCo B.V. - Feb 26, 2024 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
Feb 26, 2024
Transactions value $
$0
Form type
4
Date filed
2/27/2024, 05:13 PM
Previous filing
Jan 26, 2024
Next filing
May 29, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CIFR Common Stock Other $0 -107M -47.45% $0.00 119M Feb 26, 2024 See Footnote F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On February 26, 2024, (i) Bitfury Top HoldCo B.V. ("Bitfury Top HoldCo") transferred an aggregate of 107,304,200 shares of the Issuer's Common Stock to its parent company, Bitfury Group Limited ("BGL"), in a distribution for no consideration, and then (ii) on the same date, BGL distributed the 107,304,200 shares of the Issuer's Common Stock to its shareholders in a pro rata distribution for no consideration. As part of the distribution, V3 Holding Limited ("V3"), the majority owner of BGL, received 50,314,484 shares of the Issuer's Common Stock, representing its proportional interest in BGL.
F2 Following the distribution, Bitfury Holding B.V. is the record holder of 4,821,560 shares of Common Stock. Bitfury Top HoldCo is the record holder of 63,678,535 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 is the direct holder of 50,314,484 shares of Common Stock. Valerijs Vavilovs is the sole owner of V3, which is the majority owner of BGL. BGL is the sole owner of Bitfury Top HoldCo. [Continued]
F3 [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.