CIPHER MINING INC

Ticker: CIFR CUSIP: 17253J106 Class: Common Stock

Gladstone Institutional Advisory LLC's Holding History (CIK: 0001766530)

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

Q4 2025

Shares 30,635 Value ($000) $452 Avg Close $17.65 Range $12.41 - $25.52

Q3 2025

Shares 90,960 Value ($000) $1,145 Avg Close $7.54 Range $4.55 - $15.54

Q2 2025

Shares 29,000 Value ($000) $139 Avg Close $3.23 Range $1.86 - $4.86

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	30,635	$452	$17.65	$12.41 - $25.52
Q3 2025	90,960	$1,145	$7.54	$4.55 - $15.54
Q2 2025	29,000	$139	$3.23	$1.86 - $4.86