CIPHER MINING INC

Ticker: CIFR CUSIP: 17253J106 Class: Common Stock

Value Aligned Research Advisors, LLC's Holding History (CIK: 0001963565)

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

Q4 2025

Shares 7,447,495 Value ($000) $109,925 Avg Close $17.65 Range $12.41 - $25.52

Q3 2025

Shares 5,104,537 Value ($000) $64,266 Avg Close $7.54 Range $4.55 - $15.54

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	7,447,495	$109,925	$17.65	$12.41 - $25.52
Q3 2025	5,104,537	$64,266	$7.54	$4.55 - $15.54