UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01. | Entry into Material Definite Agreement. |
On August 26, 2022, Cipher Mining Inc. (the “Company”), through Cipher Mining Technologies Inc., entered into a Third Amendment to Power Purchase Agreement (the “Amended Agreement”) with Luminant ET Services Company LLC (“Luminant”), which amended that certain Power Purchase Agreement, dated June 23, 2021, which was subsequently amended on July 9, 2021 and February 28, 2022, with Luminant (the “Original Agreement”), for the supply of electric power to the Company’s planned data site in Odessa, Texas (“Odessa”).
The Amended Agreement provides that on or before September 10, 2022, Luminant will pay Cipher $5.056 million in cash as consideration for a modification to the ramp up schedule, as described in the Amended Agreement. In addition, Luminant releases its lien on certain Cipher property at Odessa and the Company provides a parent guaranty up to $45 million.
The foregoing description of the material terms of the Amended Agreement does not purport to be complete and is qualified in its entirety by reference to such agreement, which is filed as an exhibit to this Current Report on Form 8-K as part of Item 9.01 hereof.
Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
Exhibit Number |
Description | |
10.1 | Third Amendment to the Power Purchase Agreement, dated August 26, 2022, by and between Luminant ET Services Company LLC and Cipher Mining Technologies Inc. | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Cipher Mining Inc. | ||||||
Date: September 1, 2022 | By: | /s/ Tyler Page | ||||
Name: | Tyler Page | |||||
Title: | Chief Executive Officer |