🔴 Cipher Mining is trading 4.25% down in pre-market amid $850 million convertible-note financing and dilution concerns

Cipher Mining is trading 4.25% down at $8.56 in pre-market versus the October 19 close, amid continued investor concerns about its $850 million convertible-note financing and dilution.

• Bitcoin and Ether are down 0.65% and 0.69%, respectively, since the prior close; those modest moves do not by themselves explain the sharper decline.
• The financing and dilution concerns are ongoing, not a newly confirmed October 20 company announcement.