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Possible new Cipher Digital shares

CIFRDilution

Known so far: no new shares from the prospectus covers read · shelf not limited by the baby-shelf rule · not yet read: ATM.

Shelf room

  • Room today not capped by the baby-shelf rule ($1.8B float, Jun 30, 2025)
How this is worked out

Shelf room on the S-3ASR of Mar 3, 2025: not limited by the baby-shelf rule, because the $1.8B public float stated as of Jun 30, 2025 is $75M or more. Sources: S-3ASR Mar 3, 2025, effective Mar 3, 2025 · public float, as of Jun 30, 2025.

What could become new Cipher Digital (CIFR) shares: warrants, convertible notes and options and RSUs, each with the 10-Q, 10-K, S-3 or 424B filing it comes from.

Cipher Digital dilution ladder

Every source of new shares on record, from the filings that created it.

456.4M outstanding; up to 627.8M fully diluted, +38%

  1. Outstandingas of Oct 30, 2026 (10-Q filed Nov 2) · share count on the cover page
    456.4M
  2. Warrants010-Q Nov 2, 2026 · securities left out of diluted EPS
    +0
  3. Convertible notes161.9M shares10-Q Nov 2, 2026 · securities left out of diluted EPS
    +161.9M
  4. Options and RSUs9.5M RSUs10-Q Nov 2, 2026 · equity note
    +9.5M

Not stated in the filings we read: an ATM program.

Counts, sizes and prices as stated in each filing; the fully diluted count is arithmetic on them. Dollars become shares only at a price a filing states. Not advice.

Financing terms to know

None found in filings since Nov 2, 2026.

Each term is quoted from the exhibit it comes from; numbers are as stated in the filing. A flag describes a financing term. It is not investment advice.

Shares outstanding

456M

Feb 2025 to Oct 2026: from 362M to 456M.

From the share count on the cover of each 10-Q and 10-K, dated as each cover states.