Cipher Mining Inc. Warrant

Good Works Acquisition Corp. Warrant represents a financial instrument tied to the special purpose acquisition company (SPAC) known as Good Works Acquisition Corp. Warrants offer the holder the right, but not the obligation, to purchase shares of the associated SPAC company's stock at a specified price, known as the exercise price, before the expiration date. They are commonly used by SPACs as a mechanism to raise capital in the public markets, providing investors with potential leverage on the company's equity. The primary purpose of these warrants is to allow investors the potential to gain ownership in the company issuing them if the SPAC successfully merges with a target firm, adding a speculative component to its capital structure. Good Works Acquisition Corp., operating in this capacity, focuses on identifying and merging with companies that align with its strategic goals. Such warrants are significant in the realm of SPACs as they provide an avenue for increased investor participation, liquidity, and potential value appreciation post-merger, thereby playing a critical role in the dynamics of modern financial markets.