CIPHER MINING INC

Ticker: CIFR CUSIP: 17253J106 Class: Common Stock

Marathon Trading Investment Management LLC's Holding History (CIK: 0001572748)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 9,700 Value ($000) $143 Avg Close $17.65 Range $12.41 - $25.52

Q3 2025

Shares 1,500 Value ($000) $19 Avg Close $7.54 Range $4.55 - $15.54

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	9,700	$143	$17.65	$12.41 - $25.52
Q3 2025	1,500	$19	$7.54	$4.55 - $15.54