Company: CIFRW
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001819989-25-000112
Chunk: 168

Company: Cipher Mining Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part II, Item 2
Chunk 168
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136,777)(5,318,674)$(5)$491,336 Issuance of common shares, net of offering costs - At-the-market offering52,825,75853 221,642 - -- 221,695 Delivery of common stock underlying restricted stock units, net of shares settled for tax withholding settlement6,668,9447 (10,764)- (2,652,378)(3)(10,760)Share-based compensation-- 31,865 - -- 31,865 Net income-- - (62,145)-- (62,145)Balance as of September 30, 2024355,771,238$356 $870,565 $(198,922)(7,971,052)$(8)$671,991 

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

9

CIPHER MINING INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

(unaudited)

10

Nine Months Ended September 30,20252024Cash flows from operating activitiesNet loss$(88,039)$(62,145)Adjustments to reconcile net loss to net cash used in operating activities: Depreciation 146,503 65,661  Amortization of intangible assets 599 470  Amortization of operating right-of-use asset 1,205 888  Share-based compensation 27,830 31,865  Equity in losses (gains) of equity investees 8,472 (1,008) Loss on disposal of assets 666 -  Non-cash lease expense 817 429 Other operating activities- (1,235)Income taxes (399)1,358 Non-cash consideration received for services(164,131)(109,443)Change in fair value of derivative assets9,921 19,181 Change in fair value of warrant liability (31,860)(250)Change in fair value of bitcoin collateral (5,731)- Change in fair value of bitcoin loan782 - Unrealized loss on fair value of bitcoin 2,927 2,778 Realized gains on sale of bitcoin (16,092)(25,114)Changes in assets and liabilities:  Accounts receivable (100)396  Receivables, related party 1,782