Bitfury group commences next step of non-dilutive distribution of cipher mining inc. shares

Amsterdam , may 16, 2024 /prnewswire/ -- bitfury group ("bitfury" or the "company"), a leading full-service blockchain technology company, today announced that it has allocated the remaining part of approximately 18.5 million shares held by bitfury in cipher mining, inc. (nasdaq:cifr) ("cipher") in accordance with plans that were previously outlined into a share reserve for the benefit of both current and former bitfury employees, consultants, and advisors (or "bitfury beneficiaries") who participate in long term incentive plans maintained by bitfury. subject to the ongoing discretion of bitfury's management, bitfury expects to sell from time to time approximately 9.2 million shares of cipher's common stock allocated to the share reserve on the open market and plans to proportionally remit cash proceeds from such sales, if any, to certain of the bitfury beneficiaries on a periodic basis.
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