Blockchain technology and Bitcoin mining company Bitfury announced that the Cipher Mining share distribution plan has been approved by shareholders. The company will distribute 16,127,092 shares of Cipher stock to "Class C shareholders" within seven working days, and will explore the distribution of approximately 126 million shares of Cipher stock to remaining shareholders (subject to shareholder approval again). If the relevant distribution plan is completed, Bitfury will only retain approximately 50 million shares of Cipher stock, and its shareholding ratio will drop from about 75% to less than 20%. Bitfury stated that the distribution of shares is its commitment to providing long-term value to shareholders.