Item 1.01. Entry into a Material Definitive Agreement.
On December 29, 2021, Cipher Mining Technologies Inc., a wholly-owned subsidiary
of Cipher Mining Inc. (the "Company") entered into an agreement with Bitfury USA
Inc., a subsidiary of Bitfury Top HoldCo B.V. ("Bitfury"), made under and as a
part of the Master Services and Supply Agreement between the Company and
Bitfury, dated as of August 26, 2021, as filed with the Company's Current Report
on Form 8-K filed with the SEC on August 31, 2021 (the "Agreement") to purchase
a total of 180 units of block box air cooled containers (each a "BBAC"), the
modular data centers that house mining machines, which will be delivered in
twenty batches between May 2022 and October 2022. Cipher will pay a purchase
price of $196,880 per BBAC, with an advance payment of $3,543,840 on or before
the third business day following the execution of the Agreement, and additional
advance payments due thereafter in accordance with the terms of the Agreement.
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The foregoing description of the material terms of the 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 Statement and Exhibits.
(d) Exhibits.
Exhibit
Number Description
10.1 Purchase Order No. 21-041, dated December 29, 2021
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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