Cipher Mining redeems outstanding warrants for $0.01 each

Cipher Mining Inc. (NASDAQ: CIFR) announced it will redeem all outstanding warrants to purchase common stock for $0.01 per warrant on December 26, 2025. The company delivered redemption notices to warrant holders through Continental Stock Transfer & Trust Company as warrant agent.

The redemption follows the company's common stock closing at $18.00 or higher for 20 trading days within the 30-day period ending November 21, 2025. Under the warrant agreement terms, this stock performance triggered the company's right to redeem the warrants, which were originally issued under an agreement dated October 19, 2020.

Warrant holders may exercise their warrants until 5:00 p.m. Eastern time on December 26, 2025, but only on a cashless basis as directed by the company's board. Each warrant exercised will yield 0.2687 shares of common stock rather than requiring the original $11.50 cash exercise price. Unexercised warrants will become void after the redemption date, with holders receiving only the $0.01 redemption price.

The warrant agreement was established when Cipher was known as Good Works Acquisition Corp. The company operates industrial-scale data centers for bitcoin mining and high-performance computing hosting.

Continental Stock Transfer & Trust Company will handle questions about the warrant redemption and exercise process from its New York office. The company stated it makes no recommendation to warrant holders regarding whether to exercise their warrants.

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