Company: CIFRW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001819989-25-000081
Chunk: 76

Company: Cipher Mining Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part II, Item 1A
Chunk 76
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361,432,449 shares issued as of June 30, 2025 and December 31, 2024, respectively, and 386,758,546 and 350,783,817 shares outstanding as of June 30, 2025, and December 31, 2024, respectively388 361 Additional paid-in capital1,014,686 863,015 Accumulated deficit(266,168)(181,412)Treasury stock, at par, 1,365,042 and 10,648,632 shares at June 30, 2025 and December 31, 2024, respectively(2)(11)Total stockholders’ equity748,904 681,953 Total liabilities and stockholders’ equity$1,018,759 $855,446 

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The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

6

CIPHER MINING INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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

(unaudited)

Three Months Ended June 30,Six Months Ended June 30,2025202420252024Revenue - bitcoin mining$43,565 $36,808 $92,524 $84,945 Costs and operating (expenses) incomeCost of revenue(15,330)(14,281)(30,224)(29,101)Compensation and benefits(15,659)(16,285)(29,962)(29,321)General and administrative(9,078)(8,365)(18,029)(14,442)Depreciation and amortization(44,086)(20,251)(87,553)(37,495)Change in fair value of derivative asset(15,480)21,980 (8,150)29,339 Power sales1,376 1,109 2,367 2,282 Equity in (losses) income of equity investees(1,701)(577)(6,993)161 Unrealized gains (losses) on fair value of bitcoin17,143 (21,178)(3,035)19,378 Realized (losses) gains on sale of bitcoin(3,639)4,869 8,557 4,869 Other operating losses(2,354)- (2,833)- Total costs and operating expenses(88,808)(