Company: CIFRW
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001819989-25-000037
Chunk: 136

Company: Cipher Mining Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part II, Item 4
Chunk 136
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CIPHER MINING INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

(unaudited)

Three Months Ended March 31,20252024Cash flows from operating activitiesNet (loss) income$(38,975)$39,900 Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities: Depreciation 43,277 17,097  Amortization of intangible assets 189 147  Amortization of operating right-of-use asset 369 254  Share-based compensation 9,132 8,317  Equity in losses (gains) of equity investees 5,292 (738) Loss on disposal of assets 633 -  Non-cash lease expense - 392 Other operating activities- 1,958 Income taxes 144 5,564 Non-cash consideration received for services(48,797)(48,079) Change in fair value of derivative asset (7,330)(7,359) Change in fair value of warrant liability - (250) Change in fair value of bitcoin collateral 2,755 -  Change in fair value of bitcoin loan(1,046)-  Unrealized loss (gains) on fair value of bitcoin 20,178 (40,556) Realized gains on sale of bitcoin (12,196)-  Changes in assets and liabilities:  Accounts receivable (162)(58) Receivables, related party 1,790 (185) Prepaid expenses and other current assets 418 760  Security deposits 7 -  Other non-current assets (737)-  Accounts payable (8,745)2,540  Accrued expenses and other current liabilities (13,179)(6,123) Lease liabilities (255)(217)Net cash used in operating activities(47,238)(26,636)Cash flows from investing activities Proceeds from sale of bitcoin 90,005 -  Deposits on equipment (75,105)(4,536) Purchases of property and equipment (24,570)(7,902) Purchases and development of software (352)(200)Investment in equity investees(7,276)(18,319)Net cash used in provided by investing activities(17,298)(