Company: CIFRW
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001819989-25-000037
Chunk: 112

Company: Cipher Mining Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part II, Item 2
Chunk 112
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 31, 20252024Operating cash flows - operating lease$513 $401 March 31, 2025December 31, 2024Weighted-average remaining lease term – finance lease (in years)2.42.7Weighted-average remaining lease term – operating lease (in years)7.98.0Weighted-average discount rate – finance lease11.0 %11.0 %Weighted-average discount rate – operating lease8.0 %8.0 %Finance lease ROU assets(1)$7,356 $8,117 (1)As of March 31, 2025, the Company recorded accumulated amortization of $5.1 million for the finance lease ROU asset. Finance lease ROU assets are recorded within property and equipment, net on the Company’s consolidated balance sheets.

19

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

As of March 31, 2025, future minimum lease payments during the next five years are as follows (in thousands): Finance Lease Operating Lease Total Remaining Year Ended December 31, 2025$3,625 $3,599 $7,224 Year Ended December 31, 20264,834 2,293 7,127 Year Ended December 31, 20273,223 2,304 5,527 Year Ended December 31, 2028— 2,284 2,284 Year Ended December 31, 2029— 1,111 1,111 Thereafter— 6,668 6,668 Total lease payments11,682 18,259 29,941 Less present value discount(1,464)(5,553)(7,017)Total$10,218 $12,706 $22,924 

NOTE 13. COMMITMENTS AND CONTINGENCIES 

CommitmentsIn the normal course of business, the Company enters into contracts that contain a variety of indemnifications with its employees, licensors, suppliers and service providers. The Company’s maximum exposure under these arrangements, if any, is unknown as of March 31, 2025.ContingenciesThe Company, and its subsidiaries, are subject at times to various claims, lawsuits and governmental proceedings relating to the Company’s business and transactions arising in the ordinary course of business. The Company cannot predict the final outcome of such proceedings. Where appropriate,