---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-21-260900"
form_type: "8-K"
ticker: "CIFR"
cik: "0001819989"
company_name: "Cipher Digital Inc."
filed_at: "2021-08-31T23:59:59+00:00"
generated_at: "2026-06-29T06:50:50.806736+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Cipher Mining completes SPAC merger; $435M financing, Bitfury owns 83.4%

## Summary
- Merger completed Aug 27; CIFR and CIFRW begin trading on NASDAQ Aug 30 under CIFR and CIFRW.
- 12.65M shares redeemed (~$126.5M); combined PIPE ($375M) and Bitfury private placement ($60M) total $435M.
- Post-merger shares outstanding: ~247.1M; Bitfury Top HoldCo holds 83.4%, PIPE investors 13.0%.
- Board and executive team: Tyler Page (CEO), Edward Farrell (CFO), Patrick Kelly (COO), William Iwaschuk (CLO).
- Entered Master Services and Supply Agreement with Bitfury, registration rights, lock-up, and indemnification agreements.

## SEC filing metadata
- accession: 0001193125-21-260900
- form_type: 8-K
- ticker: CIFR
- cik: 0001819989
- company_name: Cipher Digital Inc.
- filed_at: 2021-08-31T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.01, 5.06, 3.02, 3.03, 9.01, 5.01, 5.02, 5.03, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1819989/000119312521260900/0001193125-21-260900-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1819989/000119312521260900/d212090d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-21-260900
- JSON: https://secwatch.observer/filing/0001193125-21-260900.json
- Plain text: https://secwatch.observer/filing/0001193125-21-260900.txt

## Key facts
- Executive change
  Fred Zeidman resigned as Co-Chairman at Cipher Digital Inc..
  - Action: resigned
  - Role: Co-Chairman
  source text: Fred Zeidman resigned from his position as Good Works’ Co-Chairman
  evidence_url: https://www.sec.gov/Archives/edgar/data/1819989/000119312521260900/0001193125-21-260900-index.htm
- Executive change
  Douglas Wurth resigned as Co-Chairman at Cipher Digital Inc..
  - Action: resigned
  - Role: Co-Chairman
  source text: Douglas Wurth resigned from his position as Good Works’ Co-Chairman
  evidence_url: https://www.sec.gov/Archives/edgar/data/1819989/000119312521260900/0001193125-21-260900-index.htm
- Executive change
  Douglas Wurth resigned as Director at Cipher Digital Inc..
  - Action: resigned
  - Role: Director
  source text: Fred Zeidman, Douglas Wurth, Cary Grossman, David Pauker, John J. Lendrum, III, Paul Fratamico and Tahira Rehmatulla resigned from their positions as directors of Good Works.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1819989/000119312521260900/0001193125-21-260900-index.htm
- Executive change
  Cary Grossman resigned as Director at Cipher Digital Inc..
  - Action: resigned
  - Role: Director
  source text: Fred Zeidman, Douglas Wurth, Cary Grossman, David Pauker, John J. Lendrum, III, Paul Fratamico and Tahira Rehmatulla resigned from their positions as directors of Good Works.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1819989/000119312521260900/0001193125-21-260900-index.htm
- Executive change
  Cary Grossman resigned as President at Cipher Digital Inc..
  - Action: resigned
  - Role: President
  source text: Cary Grossman resigned from his position as Good Works’ President
  evidence_url: https://www.sec.gov/Archives/edgar/data/1819989/000119312521260900/0001193125-21-260900-index.htm
- Executive change
  Fred Zeidman resigned as Director at Cipher Digital Inc..
  - Action: resigned
  - Role: Director
  source text: Fred Zeidman, Douglas Wurth, Cary Grossman, David Pauker, John J. Lendrum, III, Paul Fratamico and Tahira Rehmatulla resigned from their positions as directors of Good Works.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1819989/000119312521260900/0001193125-21-260900-index.htm
- Executive change
  Paul Fratamico resigned as Director at Cipher Digital Inc..
  - Action: resigned
  - Role: Director
  source text: Fred Zeidman, Douglas Wurth, Cary Grossman, David Pauker, John J. Lendrum, III, Paul Fratamico and Tahira Rehmatulla resigned from their positions as directors of Good Works.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1819989/000119312521260900/0001193125-21-260900-index.htm
- Executive change
  Tahira Rehmatulla resigned as Director at Cipher Digital Inc..
  - Action: resigned
  - Role: Director
  source text: Fred Zeidman, Douglas Wurth, Cary Grossman, David Pauker, John J. Lendrum, III, Paul Fratamico and Tahira Rehmatulla resigned from their positions as directors of Good Works.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1819989/000119312521260900/0001193125-21-260900-index.htm
- Executive change
  David Pauker resigned as Director at Cipher Digital Inc..
  - Action: resigned
  - Role: Director
  source text: Fred Zeidman, Douglas Wurth, Cary Grossman, David Pauker, John J. Lendrum, III, Paul Fratamico and Tahira Rehmatulla resigned from their positions as directors of Good Works.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1819989/000119312521260900/0001193125-21-260900-index.htm
- Executive change
  John J. Lendrum, III resigned as Director at Cipher Digital Inc..
  - Action: resigned
  - Role: Director
  source text: Fred Zeidman, Douglas Wurth, Cary Grossman, David Pauker, John J. Lendrum, III, Paul Fratamico and Tahira Rehmatulla resigned from their positions as directors of Good Works.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1819989/000119312521260900/0001193125-21-260900-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.