Lump sum payment to Bitmain for miner deliveries
Company: Cipher Mining
What the later record shows
Delivered; the record does not say when
The Q2 2025 10-Q says all miners under the Bitmain agreement were delivered with no remaining amount to be paid, so the reduced lump sum was paid. The exact payment date is not given.
“all of which have been delivered with no remaining amount to be paid”
2025-08-06 · Cipher Mining 10-Q filed 2025-08-07 View cached copy (2026-08-31)Live source ↗
“The Company has paid nonrefundable deposits for miners of $ 165.9 million for this order as of June 30, 2025.”
2025-08-06 · Cipher Mining 10-Q filed 2025-08-07 View cached copy (2026-08-31)Live source ↗
Checked October 10, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
Company to pay Bitmain $108,192,217.75 for early completion of remaining miner deliveries, representing a 10% reduction from original $120,213,575.28
Source (primary)
Cipher Mining 8-K filed 2025-05-20 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “The Company will fulfill such payment obligation by transferring to Bitmain a lump-sum payment of $108,192,217.75 (the "Revised Payment Amount"), a 10% reduction from the $120,213,575.28 (the "Original Payment Amount") due under the Original Agreement”
How we checked this
Checked on October 11, 2026. The cited source supports every part of this claim.
The 8-K states that the 2025 Amendment requires all remaining miners to be delivered by June 23, 2025, in exchange for early payment. It sets the lump sum at $108,192,217.75, a 10% reduction from $120,213,575.28. The filing also notes that about $27 million of this payment covers machines already delivered in 2024.
Confirmed in the source:
- Cipher Mining will pay Bitmain a lump-sum of $108,192,217.75 (the Revised Payment Amount)
- The payment is made in exchange for all remaining miners under the Original Agreement being delivered by June 23, 2025, through early payment of the remaining amounts owed
- The revised amount is a 10% reduction from the Original Payment Amount
- The Original Payment Amount was $120,213,575.28
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1819989/000119312525123159/d876438d8k.htm) in full (6,618 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Cipher Mining 8-K filed 2025-05-20
Quote: “The Company will fulfill such payment obligation by transferring to Bitmain a lump-sum payment of $108,192,217.75 (the "Revised Payment Amount"), a 10% reduction from the $120,213,575.28 (the "Original Payment Amount") due under the Original Agreement”
confirms Cipher Mining 10-Q filed 2025-08-07
Quote: “all of which have been delivered with no remaining amount to be paid”