Company: CIFRW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001819989-25-000081
Chunk: 135

Company: Cipher Mining Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part II, Item 2
Chunk 135
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- -- 160,404 Delivery of common stock underlying restricted stock units, net of shares settled for tax withholding settlement4,408,9565 (7,235)- (1,622,772)(2)(7,232)Share-based compensation-- 21,654 - -- 21,654 Net income-- - 24,609 -- 24,609 Balance as of June 30, 2024335,557,872$336 $802,610 $(112,168)(6,941,446)$(7)$690,771 

The accompanying notes are an 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,