Cipher Mining (CIFR) Terminates Board Observer Agreement with Bitfury Investors

Cipher Mining Inc. (NASDAQ:CIFR) is one of the best performing crypto stocks so far in 2025. On July 22, the company announced via an SEC filing that it ended its Board Observer Agreement with the Bitfury Investors. Bitfury Investors is the collective name for Bitfury Top HoldCo B.V. and Bitfury Holding B.V.

Cipher and the Bitfury Investors entered the original agreement on April 8, 2022. The deal gave the latter the right to designate a non-voting observer to Cipher Mining’s board of directors and its committees. This observer could attend and participate in board meetings and discussions, but did not have voting rights. Furthermore, the observer rights would automatically expire if Bitfury Investors’ stake dropped below 10% of Cipher Mining’s outstanding shares.

However, since the agreement’s inception, Bitfury Investors had neither designated an observer nor exercised the information rights granted to them. As such, the parties entered into a mutual termination agreement, effective on July 22, 2025.

Cipher Mining Inc. (NASDAQ:CIFR) is a bitcoin mining company. It develops and operates industrial-scale data centers for cryptocurrency mining and high-performance computing (HPC) hosting. The company’s primary facilities include the Odessa and Black Pearl sites in Texas. Cipher Mining’s main product is bitcoin, generated through proprietary mining rigs and strategic joint ventures.

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Disclosure: None. This article is originally published at Insider Monkey.