Bitfury Private Placement commitment
Company: Cipher Mining
The claim, verbatim
Cipher Stockholder (Bitfury) committed to provide $50,000,000 in benefit-in-kind funding
Source (primary)
Cipher Mining S-4 filed 2021-05-14 (SEC EDGAR, sec_filing)
View cached copy (2026-09-27)Live source ↗
Quote: “the Cipher Stockholder agreed to subscribe for and purchase, and GWAC has agreed to issue and sell to the Cipher Stockholder, an aggregate of 5,000,000 shares GWAC Common Stock at a purchase price of $10.00 per share for benefit-in-kind commitment (such benefit-in-kind as may be provided from time to time) of $50,000,000”
How we checked this
Checked on September 29, 2026. The cited source supports every part of this claim.
The filing states that Bitfury, as the Cipher Stockholder, agreed to buy 5,000,000 shares at $10.00 per share for a $50,000,000 benefit-in-kind commitment. Elsewhere the filing says this commitment takes the form of a 25% discount on service fees under the Master Services and Supply Agreement.
Confirmed in the source:
- The Cipher Stockholder is Bitfury Top HoldCo B.V. (Bitfury)
- Bitfury agreed to a benefit-in-kind commitment of $50,000,000 under the Bitfury Subscription Agreement
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1819989/000119312521161188/d127963ds4.htm) in full (2,164,105 characters, retrieved September 27, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Cipher Mining S-4 filed 2021-05-14
Quote: “the Cipher Stockholder agreed to subscribe for and purchase, and GWAC has agreed to issue and sell to the Cipher Stockholder, an aggregate of 5,000,000 shares GWAC Common Stock at a purchase price of $10.00 per share for benefit-in-kind commitment (such benefit-in-kind as may be provided from time to time) of $50,000,000”