TechFlow news: Blockchain technology company Bitfury Group has announced the sale of 10 million shares of Cipher Mining common stock at $2.95 per share through a private negotiated transaction. Upon completion of the transaction, Bitfury will hold 191,931,387 shares of Cipher common stock, representing approximately 75.37% of Cipher's outstanding common shares.
Bitfury has entered into a 60-day lock-up agreement regarding its remaining holdings of Cipher common stock. Under the agreement, the company is prohibited from selling or transferring any common shares prior to January 15, 2024.
Cipher, headquartered in the United States, operated as a subsidiary of Bitfury until August 27, 2021, and is a Bitcoin mining company.
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