Cipher Mining Inc. promoted William Iwaschuk to co-president on March 20, 20231. The release paired him with Patrick Kelly in the new title. Iwaschuk kept his existing posts, chief legal officer and corporate secretary, alongside the promotion. Olivia Stennett was promoted to chief administrative officer in the same announcement, and she began reporting to Iwaschuk.
The second executive hire at Cipher Mining on the record since 2021
Every move CryptoLately has verified there, by the day it became public
Moves: The Moves Ledger, CryptoLately's record of verified leadership moves, Oct. 3, 2016 to Oct. 2, 2026.
Read the chart as a table
| Date | Event |
|---|---|
| March 18, 2021 | Iwaschuk became CLO. William Iwaschuk was named Chief Legal Officer of Cipher Mining |
| March 20, 2023 | Iwaschuk became Co-President. William Iwaschuk was named Co-President of Cipher Mining |
| Oct. 6, 2025 | Farrell left as CFO. Edward Farrell left as Chief Financial Officer of Cipher Mining |
| Oct. 6, 2025 | Mumford became CFO. Gregory Mumford was named Chief Financial Officer of Cipher Mining |
20 executive hires on the record in 2023
Executive hires CryptoLately has verified, by year; 2026 through Oct. 2, 2026
- 2023: 20
- 2019, 2020, 2021, 2022, 2024, 2025, 2026
Moves: The Moves Ledger, CryptoLately's record of verified leadership moves, Oct. 3, 2016 to Oct. 2, 2026.
Read the chart as a table
| Item | Value |
|---|---|
| 2019 | 11 |
| 2020 | 12 |
| 2021 | 27 |
| 2022 | 37 |
| 2023 | 20 |
| 2024 | 39 |
| 2025 | 59 |
| 2026 | 45 |
The move
Chief executive Tyler Page credited both new co-presidents for tenure that predated Cipher Mining's public listing. “They have been part of the executive management team at Cipher since well before we went public, and they have been instrumental in growing Cipher from a greenfield startup to one of the largest bitcoin mining companies in the world,” Page said in the release1. Iwaschuk answered with a line about the team rather than himself. “Everyone at Cipher has been quietly working hard to get to this exciting stage of the Company's growth. I am grateful for the opportunity to work with this talented team as we expand our opportunities and impact,” Iwaschuk said. As co-presidents, Iwaschuk and Kelly would “lead and scale Cipher's growth and business operations, including bitcoin mining and potential adjacent opportunities.” They would keep reporting to Page, the release said.
Before and after at Cipher Mining
Ahead of the promotion, Iwaschuk was Cipher Mining's chief legal officer and corporate secretary, and he had held the legal post since the company hired him in March 2021. Kelly held the chief operating officer title alone before his own promotion, a role he kept in addition to co-president1. Stennett moved up from head of project management. She had held that post after joining Cipher from Morgan Stanley's equity prime brokerage group the previous spring. Why promote two executives into a shared title rather than naming one president? The release split their mandates. Kelly kept running day-to-day operations as chief operating officer. Iwaschuk kept the legal and compliance work that had occupied him since 2021.
What came next
By October 2, 2026, three and a half years after the promotion, Iwaschuk still held both titles. Cipher Mining had been renamed Cipher Digital Inc. by then. A Form 4 filing signed on October 2 listed him as "Co-President and CLO"3. He reported converting 33,967 and 29,611 restricted stock units and 76,427 performance stock units into common shares on September 30, 2026. Those conversions left Iwaschuk holding 1,741,696 shares of common stock directly. Vesting on the performance units depended on conditions tied to Cipher Digital's own targets, a mechanism the filing said motivates executives to meet board-set goals.
Sources
- Cipher Mining, "Cipher Mining Announces Leadership Team Promotions," GlobeNewswire, March 20, 2023, https://www.globenewswire.com/en/news-release/2023/03/20/2630817/0/en/Cipher-Mining-Announces-Leadership-Team-Promotions.html
- Cipher Mining, "Cipher Mining Announces Leadership Team Promotions," Yahoo Finance, March 20, 2023, https://finance.yahoo.com/news/cipher-mining-announces-leadership-team-200500677.html
- Stock Titan, "Cipher Digital: William Iwaschuk converts stock awards," Stock Titan, October 2, 2026, https://news.google.com/rss/articles/CBMisgFBVV95cUxPZ24zb0IxbHFfYnV6Mjd3MUFHbExERzk1aUZSd1Q5b29CdDFMcHp0MUFkN0hyOF92S0VhUHFUU2hDQkZCbmY0QzdWa1QwRlEyYy1kbU43N2dpcjA4NmptM1VKaFY2TXA1d1YyTDhpbU9sNmNiTlI3Tjl0Rk9VdWhRVmdFbUlEdGdBcnZpWTlBX2doaHdiNkZkM29zLXpLLWlKUGgwbm52Z2R4WllvUDlBcFF3?oc=5