CIFR is trading at $18.19 (-11%) after major shareholders V3 Holding and Bitfury Top HoldCo entered variable prepaid forward sale contracts worth approximately $131 million.
- The deals allow the shareholders to monetize a large block of shares without an immediate outright sale, though the move is pressuring sentiment due to concerns over future share deliveries and supply overhang.
- Additional downside pressure is stemming from a broader decline in Bitcoin prices, which typically impacts crypto-linked equities like Cipher Mining.