Company: CIFRW
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001819989-25-000112
Chunk: 235

Company: Cipher Mining Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part II, Item 3
Chunk 235
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Total$9,653 $(772)$8,881 

19

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

The Company recorded amortization expense related to intangible assets of $0.2 million and $0.6 million for the three and nine months ended September 30, 2025, respectively, and $0.2 million and $0.5 million for the three and nine months ended September 30, 2024, respectively. The Company expects to record amortization expense as follows over the next five subsequent years:(in thousands)Remaining Year Ended December 31, 2025$307 Year Ended December 31, 2026880 Year Ended December 31, 2027880 Year Ended December 31, 2028789 Year Ended December 31, 2029$578 

NOTE 9. SECURITY DEPOSITS

The Company’s security deposits consisted of the following (in thousands):September 30, 2025December 31, 2024Oncor Facility Extension security deposit related to Black Pearl Facility6,269 6,269 Oncor Facility Extension security deposit related to Barber Lake Facility— 8,297 Oncor Facility Extension security deposit related to Stingray Facility4,244 4,244 Other deposits1,532 972 Total security deposits$12,045 $19,782 As part of various transactions to acquire wholly-owned sites, the Company has deposits with Oncor Electric Delivery Company LLC (“Oncor”) to construct infrastructure to provide the ability to energize each data center. These deposits are eligible to be returned to the Company if the data centers energize an agreed upon capacity within an agreed upon timeframe. As of September 30, 2025 the Company believes these deposits will be returned.Subsequent to September 30, 2025, the Company received the Oncor Facility Extension security deposit related to the Black Pearl Facility.

NOTE 10. SUPPLEMENTAL FINANCIAL INFORMATION

Prepaid expenses and other current assets were $4.0 million and $3.4 million as of September 30, 2025 and December 31, 2024, respectively, primarily consisting of prepaid insurance as of September 30, 2025, and December 31, 2024.The Company’s accrued expenses and other current liabilities consisted of the following (in thousands):September 30, 202