Company: CIFRW
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001819989-25-000112
Chunk: 218

Company: Cipher Mining Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part II, Item 2
Chunk 218
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 to be a recurring expense over the term of the useful life of the related assets. Our non-GAAP financial measures are not meant to be considered in isolation and should be read only in conjunction with our condensed consolidated financial statements included elsewhere in this Quarterly Report, which have been prepared in accordance with GAAP. We rely primarily on such condensed consolidated financial statements to understand, manage and evaluate our business performance and use the non-GAAP financial measures only supplementally.

The following is a reconciliation of our Adjusted Earnings (loss) to the most directly comparable GAAP measure for the periods indicated (in thousands):

Three Months Ended September 30,Nine Months Ended September 30,2025202420252024 Reconciliation of Adjusted Earnings: Net loss$(3,283)$(86,754)$(88,039)$(62,145) Change in fair value of power purchase agreement9,030 48,520 17,180 19,181  Share-based compensation expense 9,074 10,211 28,736 31,865  Depreciation and amortization 59,549 28,636 147,102 66,131  Deferred income tax (benefit) expense 464 (4,013)(399)1,358  Other (losses) gains - nonrecurring(2,246)— 4,049 —  Change in fair value of warrant liability (31,860)— (31,860)(250) Adjusted earnings (loss)$40,728 $(3,400)$76,769 $56,140 

The following is a reconciliation of our Adjusted Earnings (loss) per share - diluted to the most directly comparable GAAP measure for the periods indicated:

Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Reconciliation of Adjusted Earnings per share - diluted:Net loss per share - diluted$(0.01)$(0.26)$(0.23)$(0.20)Change in fair value of power purchase agreement per diluted share0.03 0.14 0.03 0.07 Share-based compensation expense per diluted share0.02 0.03 0.08 0.10 Depreciation and amortization per diluted share0.15 0.09 0.39 0.21 Deferred income tax (benefit) expense per diluted share—