---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-225645"
form_type: "8-K"
ticker: "CIFR"
cik: "0001819989"
company_name: "Cipher Digital Inc."
filed_at: "2025-10-01T23:59:59+00:00"
generated_at: "2026-05-17T05:07:12.191967+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Cipher Mining issues $1.3B zero-coupon convertible notes due 2031; conversion price ~$16.03

## Summary
- $1.3B aggregate principal of 0.00% Convertible Senior Notes due 2031 issued Sep 30, 2025.
- Initial conversion rate: 62.3733 shares/$1,000, conversion price ~$16.03 per CIFR share.
- Capped call transactions cost $82.7M; cap price $23.32 (100% premium over Sep 25 close).
- Notes mature Oct 1, 2031; redeemable after Oct 5, 2028 if stock >130% of conversion price.
- Noteholders have optional repurchase right on Oct 1, 2029 if not previously redeemed.

## SEC filing metadata
- accession: 0001193125-25-225645
- form_type: 8-K
- ticker: CIFR
- cik: 0001819989
- company_name: Cipher Digital Inc.
- filed_at: 2025-10-01T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1819989/000119312525225645/0001193125-25-225645-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1819989/000119312525225645/d52925d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-225645
- JSON: https://secwatch.observer/filing/0001193125-25-225645.json
- Plain text: https://secwatch.observer/filing/0001193125-25-225645.txt

## Key facts
- Debt Financings
  Cipher Digital Inc. incurred convertible notes of $1,300,000,000 aggregate principal amount with U.S. Bank Trust Company, National Association at 0.00% maturing October 1, 2031.
  - Instrument: convertible notes
  - Principal: $1,300,000,000 aggregate principal amount
  - Counterparty: U.S. Bank Trust Company, National Association
  - Rate: 0.00%
  - Maturity: October 1, 2031
  - Event: incurrence
  source text: On September 30, 2025, Cipher Mining Inc. (the “Company”) issued $1,300,000,000 aggregate principal amount of its 0.00% Convertible Senior Notes due 2031 (the “Notes”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1819989/000119312525225645/0001193125-25-225645-index.htm

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