Kelly Patrick Arthur, Co-President and COO of Cipher Mining Inc. (CIFR), has demonstrated a consistent pattern of selling activity over the past year, with no recorded purchases in SEC Form 4 filings. Since June 2025, Arthur has executed 23 transactions, all involving sales or dispositions of CIFR shares, totaling approximately $12.89 million in value. The most recent transactions include a $532,808 sale on March 16, 2026, following a $552,015 disposition on February 17 and a $631,687 sale in January 2026. Earlier in December 2025, Arthur engaged in multiple transactions, including a $2.53 million disposition on December 19 and a $3.54 million sale on December 15, alongside smaller sales of $536,380 and $255,606 the same month.
The selling activity has been steady, with monthly dispositions dating back to August 2025 ($233,329) and September 2025 ($484,596), as well as larger transactions tied to derivative securities filings (coded "F") in June, September, and December 2025. Notably, Arthur has not acquired any shares during this period, reinforcing a clear divestment trend. The transactions suggest a deliberate reduction in exposure to CIFR, though the filings do not indicate whether these sales were part of prearranged trading plans. The absence of buying activity contrasts with the repeated dispositions, underscoring a one-sided trading pattern concentrated solely in Cipher Mining.
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