false 0001819989 0001819989 2022-11-04 2022-11-04 0001819989 cifr:CommonStockParValue.001PerShare2Member 2022-11-04 2022-11-04 0001819989 cifr:WarrantsEachWholeWarrantExercisableForOneShareOfCommonStockAtAnExercisePriceOf11.50PerWholeShare1Member 2022-11-04 2022-11-04





Washington, D.C. 20549







Pursuant to Section 13 or Section 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 4, 2022




(Exact name of registrant as specified in its charter)




Delaware   001-39625   85-1614529

(State or other jurisdiction of

incorporation or organization)



File Number)


(IRS Employer

Identification Number)

1 Vanderbilt Avenue

Floor 54, Suite C

New York, New York 10017

(Address of principal executive offices)

(914) 370-8006

(Registrant’s telephone number, including area code)


(Former name or former address, if changed since last report)



Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation to the registrant under any of the following provisions:


Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class





Name of each exchange

on which registered

Common Stock, par value $.001 per share   CIFR   The Nasdaq Stock Market LLC
Warrants, each whole warrant exercisable for one share of Common Stock at an exercise price of $11.50 per whole share   CIFRW   The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company  

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  





Item 1.01. Entry into Material Definite Agreement.

On November 4, 2022, through its subsidiary, Cipher Mining Technologies Inc., Cipher Mining Inc. (the “Company”) entered into a Supplementary Agreement of the Framework Agreement on Supply of Blockchain Servers (the “Supplementary Agreement”) with SuperAcme Technology (Hong Kong) Limited (“SuperAcme”), which supplements that certain Amended and Restated Framework Agreement on Supply of Blockchain Services (the “Amended Agreement”), dated May 6, 2022, and that certain Framework Agreement on Supply of Blockchain Servers (the “Original Agreement”), dated September 2, 2021.

The Supplementary Agreement establishes new fixed and floating price terms for remaining purchases of M30S, M30S+ and M30S++ miners and the Company will not be obligated to send any further money to SuperAcme. In connection with the Amended Agreement, SuperAcme has delivered 17,833 miners to date, at an aggregate value of $53,610,946.00 and the Company has paid aggregate advance payments of $101,818,600.00. The remaining balance of $48,207,654.00 will be applied to the purchase of miners under the new fixed and floating price terms set forth in the Supplementary Agreement.

The foregoing description of the material terms of the Amended Agreement does not purport to be complete and is qualified in its entirety by reference to such agreement, which is filed as an exhibit to this Current Report on Form 8-K as part of Item 9.01 hereof.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.






10.1    Supplementary Agreement of the Framework Agreement on Supply of Blockchain Servers, dated November 4, 2022
104    Cover Page Interactive Data File (embedded within the Inline XBRL document)


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


    Cipher Mining Inc.
Date: November 7, 2022     By:  

/s/ Tyler Page

    Name:   Tyler Page
    Title:   Chief Executive Officer

Exhibit 10.1

Supplementary Agreement on Contract


This Supplementary agreement (this “Agreement”) is made and entered into on November 4, 2022 (the “Effective Date”) by and among:

Super Acme Technology (Hong Kong) Limited (company No. of 2676338), a business company incorporated under the laws of Hong Kong and having its registered office at FLAT/RM A 12/F KIU FU COMM BLDG 300 LOCKHART RD WAN CHAI HONGKONG (“the Seller” or “Party A” ); and

Cipher Mining Technologies Inc., a Delaware corporation and having its address at One Vanderbilt Avenue, Floor 54, Suite C, New York, NY, 10017 United States of America (“Buyer” or “Party B”).

Whereas, Party A and Party B are parties to the Framework Agreement on Supply of Blockchain Servers, Agreement No.: SFA-20210901-M30-101 (the “Framework Agreement”): on September 2, 2021, and the “Amended and Restated Framework Agreement on Supply of Blockchain Servers, Agreement No. SFA-20210901-M30-101dated as of May 6, 2022 (the “Amended and Restated Framework Agreement”); and

Wherease, the server model, performance parameters and prices set forth in the Amended and Restated Framework Agreement are as follows:


     Model     Hash Rate
    Power on Wall
    Fixed Price      Quantity      Subtotal Based on
Fixed Price

Deposit for supply with fixed price

     M30S ++      110 ±5%      31 ±5%      4,782.40        18000        86,083,200.00  
     M30S     100 ±5%      34 ±5%      3,790.00        6000        22,740,000.00  
     M30S       88 ±5%      38 ±5%      2,904.00        6000        17,424,000.00  
       Fixed price in Total          30000        126,247,200.00  
     Model     Hash Rate
    Power on Wall
    Average Of Max. Price
and Min. Price
     Quantity      Subtotal Based on
Average Price
     M30S ++      110 ±5%      31 ±5%      4,978.40        18000        89,611,200.00  

Deposit for supply with floating price

     M30S     100 ±5%      34 ±5%      3,945.00        6000        23,670,000.00  
     M30S       88 ±5%      38 ±5%      3,014.00        6000        18,084,000.00  
       Floating Price in Total          30000        131,365,200.00  
       In Total          60000        257,612,400.00  

Whereas, based on negotiation and mutual agreement, Party A and Party B reach the following agreement, which shall be executed by both parties:



As of September 17, 2022, Party A has delivered 17,833 units from July to August 2022, including 7,361 units with fixed price and 10,472 units with floating price. The delivery details are given as below:




Hash Rate


Power Efficiency








  84   38   82   US$2,772.00   US$227,304.00


  86   38   247   US$2,838.00   US$700,986.00


  88   38   972   US$2,904.00   US$2,822,688.00


  90   38   609   US$2,970.00   US$1,808,730.00


  92   38   55   US$3,036.00   US$166,980.00


  94   34   2   US$3,562.60   US$7,125.20


  96   34   75   US$3,638.40   US$272,880.00


  98   34   85   US$3,714.20   US$315,707.00


  100   32   13   US$3,790.00   US$49,270.00


  100   34   819   US$3,790.00   US$3,104,010.00


  102   34   991   US$3,865.80   US$3,831,007.80


  104   31   26   US$4,440.80   US$115,460.80


  106   31   2300   US$4,526.20   US$10,410,260.00


  108   31   1067   US$4,611.60   US$4,920,577.20


  110   31   18   US$4,697.00   US$84,546.00


  86   38   151   US$1,591.00   US$240,241.00
  Total fixed price:   7361     US$28,837,532.00


  88   38   960   US$1,628.00   US$1,562,880.00


  90   38   845   US$1,665.00   US$1,406,925.00


  92   38   27   US$1,702.00   US$45,954.00


  98   34   161   US$2,136.40   US$343,960.40


  100   34   1000   US$2,180.00   US$2,180,000.00


  102   34   926   US$2,223.60   US$2,059,053.60


  98   31   3   US$2,469.60   US$7,408.80


  100   31   239   US$2,520.00   US$602,280.00


  100   32   6   US$2,520.00   US$15,120.00


  102   31   943   US$2,570.40   US$2,423,887.20


  102   32   3   US$2,570.40   US$7,711.20


  104   31   2446   US$2,620.80   US$6,410,476.80


  104   32   6   US$2,620.80   US$15,724.80


  106   31   1012   US$2,671.20   US$2,703,254.40


  106   32   36   US$2,671.20   US$96,163.20


  108   31   1621   US$2,721.60   US$4,411,713.60


  108   32   10   US$2,721.60   US$27,216.00


  110   31   77   US$2,772.00   US$213,444.00
  Total floating price:   10472   Floating price total:   US$24,773,414.00
  In total:   17833   In total:   US$53,610,946.00



As of September 15, 2022, Party B has paid USD 101,818,600.00, including USD 59,104,480.00 for fixed payment and USD 42,714,120.00 for floating payment.


Total Payment for fixed portion

   US$ 59,104,480.00  

Total Amounts Shipped

   US$ 28,837,532.00  

Total Amount Left for fixed Portion

   US$ 30,266,948.00  

Total Payment for Floating Portion

   US$ 42,714,120.00  

Total Amount shipped for floating Portion

   US$ 24,773,414.00  

Total Amount left for Floating Portion

   US$ 17,940,706.00  

The remaining amount USD 48,207,654.00 (calculated as USD 101,818,600.00 minus USD 53,610,946.00) will be used for the purchase of M30S++/M30S+/M30S with the new price as set forth below and Buyer will not be obligated to send any further money to Seller.



   fixed (USD/TH)      Floating (USD/TH)  


     24.4        18.5  


     28.4        21.8  


     32        25.2  

Both parties agree that the subsequent delivery of machines shall be carried out according to the remaining total balance amount USD 30,266,948.00 in fixed price and USD 17,940,706.00 in floating price, the specific delivery model and quantity can be mutually agreed by both parties. The final deliveries shall occur no later than December 15, 2022. After the final deliveries of machines has been completed, Seller will not be obligated to deliver any further machines .



This Agreement is the last supplementary agreement of the Framework Agreement SFA-20210901-M30-101. No matter how the changes in the market environment and relevant policies in the future, both parties agree that no further modification will be made to the Framework Agreement SFA-20210901-M30-101 until the execution is completed.



This Agreement is a supplementary agreement to the Framework Agreement No. SFA-20210901-M30-101 and the Amended and Restated Framework Agreement and an integral part of the Framework Agreement and the Amended and Restated Framework Agreement.



This agreement shall become effective after being signed by all parties.

[The remainder of this page has been left intentionally blank]

IN WITNESS WHEREOF, the Parties hereto have caused their respective duly authorized representatives to execute this Agreement on the date and year first above written.

The Seller: Super Acme Technology (Hong Kong) Limited


/s/ Jianbing Chen

Authorized representative: Jianbing Chen, COO

Date: 11/3/2022

The Buyer: Cipher Mining Technologies Inc.

/s/ Tyler Page

Authorized representative: Tyler Page

Date: 11/3/2022