X0609 4 2026-05-11 0001819989 Cipher Digital Inc. CIFR 0001887845 V3 Holding Ltd true 4TH FL HARBOUR PL 103 S CHURCH ST, 10240 GRAND CAYMAN E9 KY1-1002 CAYMAN ISLANDS 0 0 1 0 0001884407 Bitfury Top HoldCo B.V. true STRAWINSKYLAAN 3051 AMSTERDAM P7 1077 ZX NETHERLANDS 0 0 1 0 0001887853 Bitfury Holding B.V. true STRAWINSKYLAAN 3051 AMSTERDAM P7 1077 ZX NETHERLANDS 0 0 1 0 0001887811 Vavilovs Valerijs true 2102 CHEDDAR CHEESE TOWER, PO BOX 712650 DUBAI C0 UNITED ARAB EMIRATES 0 0 1 0 0001887872 Bitfury Group Ltd true FIELDFISHER RIVERBANK HOUSE, 2 SWAN LANE LONDON X0 EC4R 3TT UNITED KINGDOM 0 0 1 0 0 Forward sale contract (obligation to sell) 2026-05-11 4 J 0 5675984 A Common Stock 5675984 5675984 D On May 11, 2026, V3 Holding Limited ("V3") entered into a variable prepaid forward sale contract (the "Forward Contract") with an unaffiliated third-party dealer (the "Dealer") covering a maximum of 5,675,984 shares of Common Stock. The Forward Contract obligates V3 to deliver to the Dealer up to 945,998 shares of Common Stock in each of six tranches within one business day after each of the six maturity dates of the Forward Contract (April 1, 2027, April 15, 2027, April 29, 2027, May 13, 2027, May 27, 2027 and June 10, 2027), for an aggregate amount of up to 5,675,984 shares. In exchange for assuming this obligation, V3 received a cash payment of $100.0 million in connection with the entry into the Forward Contract. The reporting person pledged 5,675,984 shares of Common Stock (the "Pledged Shares") to secure its obligations under the Forward Contract. [Continued] [Cont.] The number of shares of Common Stock to be delivered to the Dealer on each of the six maturity dates is to be determined as follows: (a) if the closing price of Common Stock during the trading day immediately preceding the maturity date (the "Settlement Price") is less than or equal to $21.4332 (the "Floor Price"), the reporting person will deliver to the Dealer 945,998 shares; (b) if the Settlement Price is between the Floor Price and $32.1498 (the "Cap Price"), the reporting person will deliver to the Dealer a number of shares of Common Stock having a value (based on the then market price) equal to $20.3 million; and (c) if the Settlement Price is greater than the Cap Price, the reporting person will deliver to the Dealer a number of shares of Common Stock equal to 945,998 shares minus a number of shares of Common Stock having a value (based on the then market price) equal to $10.1 million. [Continued] [Cont.] V3 will retain economic and voting rights in the Pledged Shares during the term of the pledge (so long as no event of default or similar event occurs under the Forward Contract or the related pledge agreement). Valerijs Vavilovs is the sole owner of V3. As a result, Mr. Vavilovs may be deemed to have beneficial ownership of the Common Stock owned by V3. Stijn Ehren, Managing Director of Bitfury Top HoldCo B.V., By: /s/ Stijn Ehren 2026-05-13 Stijn Ehren, Managing Director of Bitfury Holding B.V., By: /s/ Stijn Ehren 2026-05-13 Valerijs Vavilovs, Director of Bitfury Group Limited, By: /s/ Valerijs Vavilovs 2026-05-13 Valerijs Vavilovs, Director of V3 Holding Limited, By: /s/ Valerijs Vavilovs 2026-05-13 Valerijs Vavilovs, By: /s/ Valerijs Vavilovs 2026-05-13