Company: CIFRW
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001819989-25-000112
Chunk: 181

Company: Cipher Mining Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part II, Item 2
Chunk 181
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’s intangible assets consisted of the following (in thousands):September 30, 2025Gross Carrying AmountAccumulated Amortization Net Carrying AmountStrategic contract$7,000 $(642)$6,358 Capitalized software3,797 (730)3,067 Total$10,797 $(1,372)$9,425 December 31, 2024Gross Carrying AmountAccumulated AmortizationNet Carrying AmountStrategic contract$7,000 $(379)$6,621 Capitalized software2,653 (393)2,260 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