SCHEDULE 13G: BlackRock Discloses 6.5% Stake in Cipher Mining Inc.

BlackRock, Inc. has reported a 6.5% beneficial ownership stake in Cipher Mining Inc., holding over 21 million shares of common stock.

Summary

• BlackRock, Inc. has filed a Schedule 13G, disclosing its beneficial ownership in Cipher Mining Inc.
• As of June 30, 2025, BlackRock, Inc. beneficially owns an aggregate of 21,890,510 shares of Cipher Mining Inc. common stock.
• This ownership represents 6.5% of the total outstanding common stock of Cipher Mining Inc.
• BlackRock holds sole voting power over 21,235,859 shares and sole dispositive power over 21,890,510 shares.
• The filing indicates that the securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.
• BlackRock, Inc. is classified as a parent holding company or control person for this filing.

Sentiment

Score: 6

Explanation: The filing is a factual disclosure of a significant institutional ownership stake. While not directly positive about the issuer's performance, the presence of a major investor like BlackRock can be seen as a vote of confidence or at least a sign of institutional interest, which is generally viewed favorably by the market.

Positives

• The disclosure of a significant stake by a major institutional investor like BlackRock can be viewed positively, indicating institutional confidence or interest in Cipher Mining Inc.

Negatives

• No negative information regarding Cipher Mining Inc.'s performance or operations is disclosed in this filing.

Risks

• No specific risks related to Cipher Mining Inc.'s operations or financial health are detailed in this beneficial ownership report. The primary 'risk' from the perspective of the issuer is the potential for a large shareholder to influence corporate decisions, though BlackRock states its holdings are for ordinary course of business.

Future Outlook

NA

Management Comments

• "The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

This Schedule 13G filing indicates that a major asset manager, BlackRock, Inc., holds a significant passive investment in Cipher Mining Inc. Such filings are routine disclosures by institutional investors when their beneficial ownership in a public company exceeds 5%, signaling their position in the market without necessarily implying an intent to influence management or control the company. This is a standard practice for large investment firms managing diverse portfolios.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional holder, which can influence market perception and potentially liquidity.
• Investment Professionals: Offers insight into institutional investment trends and specific holdings of major asset managers.

Next Steps

• BlackRock, Inc. will continue to monitor its investment in Cipher Mining Inc. and file updated Schedule 13G or 13D reports as required by changes in its ownership percentage or investment intent.

Key Dates

Keywords

Cipher Mining Inc., BlackRock Inc., Schedule 13G, beneficial ownership, institutional investor, common stock, SEC filing, passive investment, asset management