Bitfury Group sells 10 million shares of Cipher Mining common stock for $2.95 each

On November 10th, blockchain">blockchain technology company Bitfury Group announced the sale of 10 million shares of Cipher Mining common stock at a price of $2.95 per share in a private negotiated transaction. After the transaction is completed, Bitfury will hold 191,931,387 shares of Cipher, accounting for approximately 75.37% of Cipher's common stock. Bitfury has signed a 60-day lock-up agreement for its remaining holdings of Cipher common stock, which prohibits the company from selling or transferring any common stock until January 15, 2024. Cipher is a US-based bitcoin mining company that operated as a subsidiary of Bitfury until August 27, 2021.