Bitfury CEO cuts 5% of Cipher stock since July's rise
Source: CoinWorld
Time: 2025-09-18 19:39:46
Cipher Mining’s stock surged to its annual highs as its largest external shareholders, including V3 Holding, owned by Bitfury CEO Valerijs Vavilovs, also sold their shares. V3 and Bitfury have sold more than 10 million shares since July, with Vavilovs' stake dropping from 25.7% to 20.2%. The sell-off was described as part of a long-term diversification strategy, while Cipher's share price has more than doubled, rising from less than $5 per share to nearly $12.65. Despite selling some of the stocks, Vavilovs remains confident in Cipher's growth prospects, thanks to its growing mining capabilities.