V3 Holding, an entity wholly owned by Vavilovs, has been steadily reducing its stake in Cipher since the beginning of July, according to a recent Schedule13D filing. V3 sold a cumulative 1.20 million shares, or 2.6 percent of its direct holdings at the time, between July 8 and 9 at an average price of $6.13 each. The sale is part of a "disciplined, long-term strategy" by V3 and Vavilovs to diversify individual investments and fund charitable causes, the filing said, with a commitment to sell no more than 5 percent of Cipher's average daily trading volume in a single day.
V3 and its affiliated entities have since accelerated the sell-off during Cipher's share price rally. From late July to mid-September, V3 and Bitfury Top HoldCo combined sold more than 10 million shares, typically selling 500,000 to 900,000 shares daily. Cipher's share price reportedly more than doubled during that time, while the sale price rose from less than $5 per share in early July to nearly $12.65 in mid-September.
Data: Bitfury CEO has sold 5% of Cipher stock since July
2025-09-19 02:46:15
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