CIFR Cipher Mining Inc. Insider Trading

CEO Tyler Page sells 225,000 shares over 2 days for $4.9M under pre-arranged 10b5-1 plan at blended $21.94.

Tyler Page, CEO of Cipher Digital Inc., executed 2 separate sales totaling 225,000 shares for $4,935,375.00 ($4.9M) at blended average price $21.94, reducing holdings from 9,196,725 shares to 8,971,725 shares. The sales were conducted on 2026-07-08 and 2026-07-09 under a pre-arranged 10b5-1 trading plan adopted on 2025-12-19, meaning execution was scheduled rather than discretionary. The company is materially unprofitable with Net income of $-114,316,000.00 ($-114.3M) in the most recent fiscal year, though revenue grew 48.0% year-over-year. Current stock price of $22.11 sits 26.6% below the 52-week high of $30.14, while the 30-day and 90-day returns of +5.2% and +33.8% show recent upward momentum. Because the sale was pre-scheduled under 10b5-1 rules rather than discretionary, no timing-based characterization applies to this transaction.

10% owner V3 Holding Ltd sold 1,200,000 shares (1.20M) for $30,586,816.50 at $25.35–$26.10 on 2026-06-04

V3 Holding Ltd, a 10% shareholder in CIFR, executed 2 separate sales totaling 1,200,000 shares (1.20M shares) for $30,586,816.50, reducing holdings from 59,516,694 to 58,316,694 shares (-2.0%). The transaction occurred at blended average price $25.49, above the current price of $24.29. Notably, V3's same-ticker history at CIFR shows a striking pattern: all 5 prior sales at this ticker achieved negative 90-day returns (-29.2% to -34.2%), with a perfect 5 of 5 well-timed rate at the 90-day mark. This disciplined execution contrasts with the company's fundamentals: CIFR is unprofitable with negative net income of $-114,316,000.00 despite strong revenue growth of +48.0% and a $9.9B market cap, suggesting a valuation gap between market expectations and current earnings. The cross-ticker track record (20 prior sells, 35.00% well-timed rate at 90 days) is less impressive than this insider's CIFR-specific discipline, making the timing consistency at this specific holding a distinguishing factor for investor attention.

V3 Holding Ltd sold 1,800,000 shares at blended $26.62 for $47,912,485.15; retains 59,516,694 shares plus forward contracts

V3 Holding Ltd executed 3 separate sales totaling 1,800,000 shares for $47,912,485.15 on 2026-06-03, reducing non-derivative holdings by 2.9% while retaining 59,516,694 shares post-transaction. The underlying company is unprofitable (net income $-114,316,000.00 over its most recent full fiscal year) despite strong annual revenue growth of +48.0%, creating a tension between expansion and profitability. The 10% owner's prior trades at this ticker show 5 of 5 prior sells with negative 90-day returns (-32.0%, -29.2%, -32.3%, -34.2%, -29.7%), indicating a consistent pattern of selling ahead of subsequent declines, though the current transaction's timing relative to future performance cannot be inferred from this filing structure alone. The derivative holdings (forward sale contract for 2,000,000 shares) remain outstanding, indicating the insider retains significant economic exposure.

COO Kelly Patrick Arthur sold 48,000 shares of CIFR at $19.36; stock now at $22.29 after +35.8% 90d rise, poorly timed vs fundamentals.

Kelly Patrick Arthur, Co-President and COO, sold 48,000 shares at $19.36 on 2026-05-12, reducing holdings from 1,453,776 to 1,451,856 shares. The stock has risen 35.8% over 90 days post-transaction and currently trades at $22.29—well above the $19.36 sale price—indicating the sale was poorly timed relative to subsequent price action. Across his prior 5 same-ticker sales at CIFR, Arthur achieved a 40.00% well-timed rate at the 90-day horizon, but this latest transaction contradicts that pattern: he sold into weakness only to see the stock accelerate upward. The company remains deeply unprofitable (net income of $-114.3M against $34.8M quarterly revenue), yet the 48% annual revenue growth and strong momentum may explain the disconnect between fundamentals and recent insider activity—Arthur exited a position in a loss-making business even as equity markets priced in growth.

CEO Page Tyler sold 37,500 shares of CIFR at $16.11 on 2026-03-25; stock down 44.4% from 52-week high amid unprofitable operations.

CEO Page Tyler sold 37,500 shares at $16.11, reducing holdings from 8,301,362 to 8,263,862 shares—a 0.5% reduction of pre-transaction holdings. The sale occurred as Cipher Digital trades at $13.74, down 44.4% from its $24.71 52-week high and 17.3% lower over the prior 30 days. Notably, the company reported a negative net income of $-3.3M in its latest quarter and was unprofitable over its most recent full fiscal year, despite generating $71.7M in revenue and posting +48.0% annual revenue growth. The sale price of $16.11 sits between the current price and the 52-week high, reflecting volatility in a company still scaling revenue while operating at a loss.

COO Kelly Patrick Arthur sold 35,568 shares of CIFR at $14.98 via pre-arranged 10b5-1 plan adopted 2025-05-12

Kelly Patrick Arthur executed a scheduled sale of 35,568 shares at $14.98 as part of a pre-arranged 10b5-1 trading plan adopted on 2025-05-12, reducing his holdings from 1,477,076 shares to 1,441,508 shares. The transaction was pre-programmed and non-discretionary, eliminating timing as an interpretive variable. Arthur retains substantial equity in Cipher Digital (1,441,508 shares post-sale), which demonstrates continued material ownership alignment with shareholders despite the reduction of 2.4% of his pre-transaction holdings.

COO Kelly Patrick Arthur sells 35,568 shares of CIFR at $15.52; stock down -36.1% from 52-week high.

Kelly Patrick Arthur (Co-President and COO) sold 35,568 shares of Cipher Mining Inc. (CIFR) at $15.52 on 2026-02-17, reducing holdings by -2.4% to 1.48M shares. The sale occurs as CIFR trades -36.1% below its 52-week high of $24.71 and -11.8% below its 30-day average, suggesting execution near a depressed price point. Across his cross-ticker history, Arthur's prior 3 sales achieved a well-timed rate of 100.00% (90-day outcomes negative, indicating he sold before declines), but at CIFR specifically, his track record is more mixed: one 90-day measurable outcome (-13.4% at the October sale) was well-timed, while a December sale that initially returned +20.2% over 30 days indicates inconsistent timing at this ticker. Cipher Mining's fundamentals remain stressed—the company reported $71.7M quarterly revenue and a -$3.3M net loss, with no profitability in the full fiscal year despite +19.3% annual growth—creating uncertainty that may weigh on investor confidence.

COO Kelly Patrick Arthur sold 35.6K shares of CIFR at $17.76 on Jan 15; stock trading -27.5% from 52-week high of $24.71

Kelly Patrick Arthur, Co-President and COO, sold 35,568 shares at $17.76 on 2026-01-15, reducing his holdings by 2.3% to 1,512,644 shares. The sale occurred near mid-range pricing: the stock is currently at $17.92 (0.9% above the transaction price) but sits -27.5% below its 52-week high of $24.71. Reviewing his prior trades at CIFR, his October 2025 sale at a higher price point preceded a 90-day decline of -13.4%, demonstrating timing that aligned with the subsequent downturn. The company posted $71.7M revenue last quarter with annual growth of +19.3%, but remains unprofitable (full-year net income was $-3.3M), providing a backdrop of operational losses against growth. Given the executive's position and modest reduction in stake, this transaction reflects a discrete share disposition rather than a wholesale exit from the company.

COO Kelly Patrick Arthur sold 35,569 shares of CIFR at $15.08 on 2025-12-15; stock now $14.39, -41.8% from 52-week high

Kelly Patrick Arthur, Co-President and COO, sold 35,569 shares at $15.08, reducing holdings by 2.5% to 1,398,569 shares. The stock has declined sharply to $14.39, down 41.8% from its 52-week high of $24.71, though it remains up 21.4% over 90 days. Arthur's cross-ticker track record shows 1 prior sell with an average 30-day return of -31.9%, and at CIFR specifically, a prior sell on 2025-10-15 also posted -31.9% 30-day returns. The company reported $71.7M in latest quarterly revenue and $-3.3M net income, indicating ongoing unprofitability despite 19.3% annual revenue growth. The timing and magnitude of this sale in a company trading well below its 52-week peak, coupled with the insider's history of unfavorable sell timing and the company's negative earnings profile, merit closer review of whether this reflects broader management concerns about valuation or execution.

Co-President & CLO Iwaschuk sold 173,094 shares of CIFR at $22.52 for $3.9M, leaving 1.05M shares; stock now down 12.1% from 52-week high despite +357.0% 90-day surge.

Iwaschuk's sale of 173,094 shares (173.1K shares) at $22.52 represents a reduction of 14.1% of his pre-transaction holdings from 1.23M to 1.05M shares, executed after the stock surged +357.0% over 90 days and +37.8% over 30 days to reach near its 52-week high of $24.71. His cross-ticker track record shows 1 prior open-market sell with a 90-day well-timed rate of 0.00%, meaning that sale resulted in the stock rising afterward rather than falling—the opposite of well-timed selling. At CIFR specifically, his single prior sale on 2024-09-25 also showed positive post-trade returns (+38.6% at 30 days, +39.6% at 90 days), indicating he sold before substantial upside accrued. The company, though growing revenue 19.3% annually, remains unprofitable with a net loss of $-3.3M on $71.7M quarterly revenue, placing the transaction against mixed fundamental signals. The timing pattern—selling into strength after a dramatic rally—warrants monitoring given the insider's historical tendency to sell ahead of further price appreciation rather than ahead of decline.