Company: CIFRW
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001819989-25-000112
Chunk: 38

Company: Cipher Mining Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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2024- - Common stock, $0.001 par value, 500,000,000 shares authorized, 395,488,396 and 361,432,449 shares issued as of September 30, 2025 and December 31, 2024, respectively, and 393,602,553 and 350,783,817 shares outstanding as of September 30, 2025, and December 31, 2024, respectively395 361 Additional paid-in capital1,052,253 863,015 Accumulated deficit(269,451)(181,412)Treasury stock, at par, 1,885,843 and 10,648,632 shares at September 30, 2025 and December 31, 2024, respectively(2)(11)Total stockholders’ equity783,195 681,953 Total liabilities and stockholders’ equity$2,840,866 $855,446 

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 September 30,Nine Months Ended September 30,2025202420252024Revenue - bitcoin mining$71,707 $24,102 $164,231 $109,047 Costs and operating (expenses) incomeCost of revenue(26,733)(15,063)(56,957)(44,164)Compensation and benefits(14,445)(14,738)(44,407)(44,058)General and administrative(8,167)(8,919)(26,196)(23,362)Depreciation and amortization(59,549)(28,636)(147,102)(66,131)Change in fair value of power purchase agreement(9,030)(48,520)(17,180)(19,181)Power sales2,335 1,444 4,702 3,726 Equity in (losses) income of equity investees(1,479)847 (8,472)1,008 Unrealized gains (losses) on fair value of bitcoin108 (22,156)(2,927)(2,778)Realized gains on sale of bitcoin7,535 20,245 16,092 25,