Company: CIFRW
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001819989-25-000112
Chunk: 165

Company: Cipher Mining Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part II, Item 2
Chunk 165
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CIPHER MINING INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except for share and per share amounts)

(unaudited)

Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Revenue - bitcoin mining$71,707 $24,102 $164,231 $109,047 Costs and operating (expenses) incomeCost of revenue(26,733)(15,063)(56,957)(44,164)Compensation and benefits(14,445)(14,738)(44,407)(44,058)General and administrative(8,167)(8,919)(26,196)(23,362)Depreciation and amortization(59,549)(28,636)(147,102)(66,131)Change in fair value of power purchase agreement(9,030)(48,520)(17,180)(19,181)Power sales2,335 1,444 4,702 3,726 Equity in (losses) income of equity investees(1,479)847 (8,472)1,008 Unrealized gains (losses) on fair value of bitcoin108 (22,156)(2,927)(2,778)Realized gains on sale of bitcoin7,535 20,245 16,092 25,114 Other operating gains (losses)101 - (2,732)- Total costs and operating expenses(109,324)(115,496)(285,179)(169,826)Operating loss(37,617)(91,394)(120,948)(60,779)Other income (expense)Interest income457 1,188 943 3,027 Interest expense(1,286)(346)(3,200)(1,118)Change in fair value of warrant liability31,860 - 31,860 250 Other income (expense)3,000 (4)4,064 (1,235)Total other income34,031 838 33,667 924 Loss before taxes(3,586)(90,556)(87,281)(59,855)Current income tax benefit (expense)767 (211)(1,157)(932)Deferred income tax benefit (expense)(464)4,013 399 (1,358)Total income tax benefit (expense)303 3,802 (