Cipher Mining revises miner supply deal; no additional cash to SuperAcme

Cipher Digital Inc.

Paid $101.8M in advances; received 17,833 miners worth $53.6M as of Sept 2022.
Remaining $48.2M balance will fund future miner purchases at new fixed/floating prices.
New prices per TH: M30S $24.40 fixed, $18.50 floating; deliveries due by Dec 15, 2022.
This is the final supplementary agreement; no further modifications allowed.
Buyer not obligated to send any more money to seller under the amended terms.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Cipher Digital Inc. amended Supplementary Agreement of the Framework Agreement on Supply of Blockchain Servers with SuperAcme Technology (Hong Kong) Limited valued at $48,207,654.00 (effective 2022-11-04).

Action: amendment
Agreement: supply
Counterparty: SuperAcme Technology (Hong Kong) Limited
Value: $48,207,654.00
Effective: 2022-11-04

Exact text from the filing

On November 4, 2022, through its subsidiary, Cipher Mining Technologies Inc., Cipher Mining Inc. (the “Company”) entered into a Supplementary Agreement of the Framework Agreement on Supply of Blockchain Servers (the “Supplementary Agreement”) with SuperAcme Technology (Hong Kong) Limited (“SuperAcme”), which supplements that certain Amended and Restated Framework Agreement on Supply of Blockchain Services (the “Amended Agreement”), dated May 6, 2022, and that certain Framework Agreement on Supply of Blockchain Servers (the “Original Agreement”), dated September 2, 2021.

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23 material agreements filed in the last 30 days. Browse all material agreements →

Cipher Digital Inc. filing history →

Source: SEC EDGAR

accession 0001193125-22-279347

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