Cipher Mining is trading 4.48% lower at $9.59 as investors weigh its $850 million zero-coupon convertible-note offering and related dilution and leverage concerns. - The company also exchanged about $165.9 million of existing notes for shares; the new notes are due 2032 and set to settle October 16. - Bitcoin fell 0.37% since the previous close, while Ethereum rose 0.42%; broader technology-sector weakness and inflation concerns may add pressure.