Summary by Moomoo AI
Cipher Mining Inc. has filed an amendment to its Schedule 13D with the SEC, detailing changes in share ownership and distribution among its major shareholders. The amendment, dated May 16, 2024, indicates that Bitfury Group has decided against using a special-purpose entity to distribute approximately 18.5 million shares of Cipher Mining's common stock to Bitfury Beneficiaries. Instead, Bitfury Group will directly allocate these shares into a reserve for the beneficiaries. The group plans to sell around 9.2 million shares from this reserve on the open market, with the proceeds going to certain beneficiaries. The remaining 9.3 million shares will be managed at the discretion of Bitfury Group's management. The filing also updates the beneficial ownership percentages for several entities and individuals, including Bitfury Holding B.V., Bitfury Top HoldCo B.V., Bitfury Group Limited, V3 Holding Limited, and Valerijs Vavilovs, with Vavilovs holding a significant 38.3% of the class through various ownership structures.