# Cipher Mining funding: rounds and investors

> Cipher Mining has raised $1.1B across 2 rounds since 2025. Investors include Fidelity and SoftBank. Every round with its source.

Source: https://millionrounds.com/company/cipher-mining (Millionrounds; every figure on the page links to its filing or article)

United States · [Funded startup](https://millionrounds.com/companies)

# Who invested in *Cipher Mining*

2 rounds we have observed, with the 2 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

Web3 & Crypto

Raised 5 months ago

Funding summary Updated 26 Oct 2026

**$1.1B** raised across 2 rounds since 2025, from 2 sources

**$333M** Debt **$810M** Debt

- **Latest round:** Debt, $810M Jun 2026
- **Step-up i:** 2.4×
- **Investors:** 2

See who backed them

## The funding story

Each circle is a round, placed by date and sized by amount. The line above is the running total.

2026

**$333M** Debt

**$810M** Debt

- **First round:** Debt, $333M
- **Biggest round:** $810M
- **Between rounds:** 7 months

## The rounds

- **Jun 2026** Debt **$810M** *2 returning* [Fidelity](https://millionrounds.com/fund/fidelity) [SoftBank](https://millionrounds.com/fund/softbank-2) Source recorded
- **Nov 2025** Debt **$333M** *2 new* [Fidelity](https://millionrounds.com/fund/fidelity) [SoftBank](https://millionrounds.com/fund/softbank-2) Source recorded

## Founders and team

From Cipher Mining's own website: 9 on the team.

- **Patrick Kelly** Co-President & Chief Operating Officer
- **Tyler Page** Chief Executive Officer
- **William Iwaschuk** Co-President & Chief Legal Officer
- **Caitlin Long** Director
- **Cary Grossman** Director
- **James Newsome** Board Chair
- **Robert Flatley** Director
- **Thomas Duda** Director
- **Wesley Williams** Director

## Who was in which round

The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led.

**Debt** 2025 **Debt** 2026 [Fidelity](https://millionrounds.com/fund/fidelity) [SoftBank](https://millionrounds.com/fund/softbank-2)

## Everyone who backed them

[Fidelity](https://millionrounds.com/fund/fidelity) VC firm **2** rounds

[SoftBank](https://millionrounds.com/fund/softbank-2) Investment firm **2** rounds

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=cipher-mining).

## Also claim to have backed them

These 2 firms list Cipher Mining as a portfolio company on their own websites, but no report of a round names them. They are the firms' own claims, kept apart from the rounds above.

[Bitfury Group](https://millionrounds.com/fund/bitfury-group) VC firm Per its own site

[Cryptic8 VC](https://millionrounds.com/fund/cryptic8-vc) VC firm Per its own site

## Quick answers about Cipher Mining

### Who invested in Cipher Mining?

Cipher Mining's investors include Fidelity and SoftBank.

### How much has Cipher Mining raised?

Cipher Mining has raised $1.1B across 2 rounds since 2025.

### When did Cipher Mining last raise?

Cipher Mining's most recent round was a Debt of $810M in Jun 2026.

### What was Cipher Mining's biggest round?

Its most recent round, $810M in Jun 2026, is also its largest on record.

### Who backed Cipher Mining first?

Cipher Mining's first round on record, in Nov 2025, was backed by Fidelity and SoftBank.

### What stage is Cipher Mining at?

Cipher Mining's latest named round is a Debt, in Jun 2026.

### Where is Cipher Mining based?

Cipher Mining is based in the United States.

## Companies like Cipher Mining

In the same sector, and raised in the last eighteen months.

[**Kalshi** $2.7B · Oct 2026](https://millionrounds.com/company/kalshi)[**STRIVE** $1.3B · Oct 2026](https://millionrounds.com/company/strive)[**Arda** $233M · Oct 2026](https://millionrounds.com/company/arda)[**Binance.US** $300M · Oct 2026](https://millionrounds.com/company/binance-us)[**Fission** $10M · Oct 2026](https://millionrounds.com/company/fission)[**Ramp** $4.5B · Oct 2026](https://millionrounds.com/company/ramp)

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