Company: CIFRW
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001819989-25-000112
Chunk: 229

Company: Cipher Mining Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part II, Item 3
Chunk 229
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 the treasury stock method. For warrants that are liability-classified, during periods when the impact is dilutive, the Company assumes share settlement of the instruments as of the beginning of the reporting period and adjusts the numerator to remove the change in fair value of the warrant liability and adjusts the denominator to include the dilutive shares calculated using the treasury stock method.The Company’s potentially dilutive common shares have been excluded from the computation of diluted net loss per common share when the effect would be to reduce the net loss per common share, or increase the net income per common share.

15

CIPHER MINING INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(unaudited)

The following is a reconciliation of the numerator and denominator of the diluted earnings (loss) per share computations for the periods indicated below:Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Basic and diluted loss per share:Net loss$(3,283)$(86,754)$(88,039)$(62,145)Weighted average shares outstanding - basic393,191,623332,680,037376,372,526314,820,110Add:RSUs----Weighted average shares outstanding - diluted393,191,623332,680,037376,372,526314,820,110Net loss per share - basic and diluted$(0.01)$(0.26)$(0.23)$(0.20)The following table presents the common share equivalents that are excluded from the computation of diluted earnings (loss) per common share at September 30, 2025 and 2024, because including them would have been antidilutive.September 30,20252024Public warrants8,613,9358,613,980Unvested RSUs25,691,97821,479,801 2030 Note conversion50,438,686—84,744,59930,093,781The 2031 Convertible Notes, described in more detail in Note 14. Debt, and the warrants issued to Google LLC (“Google”) described in more detail in Note 16. Warrants, are excluded from the computation of antidilutive shares as of September 30, 2025 due to the lack of available shares authorized for issuance available for the Company to settle these instruments in shares.Recently adopted accounting pronouncementsIn December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740):