Company: CIFRW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001819989-25-000081
Chunk: 184

Company: Cipher Mining Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part II, Item 3
Chunk 184
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 integral part of these unaudited condensed consolidated financial statements.

9

CIPHER MINING INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

(unaudited)

10

Six Months Ended June 30,20252024Cash flows from operating activitiesNet (loss) income$(84,756)$24,609 Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities: Depreciation 87,166 37,192  Amortization of intangible assets 388 303  Amortization of operating right-of-use asset 765 565  Share-based compensation 19,625 21,654  Equity in losses (gains) of equity investees 6,993 (161) Loss on disposal of assets 633 -  Non-cash lease expense 570 762 Other operating activities- (1,839)Income taxes (863)5,371 Non-cash consideration received for services(91,544)(85,281) Change in fair value of derivative asset 8,150 (29,339) Change in fair value of warrant liability - (250) Change in fair value of bitcoin collateral (5,731)-  Change in fair value of bitcoin loan782 -  Unrealized loss (gains) on fair value of bitcoin 3,035 (19,378) Realized gains on sale of bitcoin (8,557)(4,869) Changes in assets and liabilities:  Accounts receivable (979)336  Receivables, related party 1,841 69  Prepaid expenses and other current assets 4,791 71  Security deposits 5,988 1,609  Other non-current assets (728)(203) Accounts payable (11,440)(47)Accounts payable, related party- (2,745)Accrued expenses and other liabilities(39,047)-  Lease liabilities (537)(417)Net cash used in operating activities(103,455)(51,988)Cash flows from investing activities Proceeds from sale of bitcoin 121,352 10,334  Deposits on equipment (162,378)(35,748) Purchases of property and equipment (55,867)(15,766) Purchases and development of software (