Company: CIFRW
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001819989-25-000037
Chunk: 120

Company: Cipher Mining Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part II, Item 2
Chunk 120
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 for identical, unrestricted assets or liabilities;Level 2 — Quoted prices in markets that are not active and financial instruments for which all significant inputs are observable, either directly or indirectly; or Level 3 — Prices or valuations that require inputs that are both significant to the fair value measurement and unobservableThe Company’s financial assets and liabilities subject to fair value measurement on a recurring basis and the level of inputs used for such measurements were as follows as of the dates indicated (in thousands):Fair Value Measured as of March 31, 2025Level 1Level 2Level 3TotalAssets included in:Cash and cash equivalentsMoney market securities$1,400 $- $- $1,400 Restricted cashMoney market securities14,392 - - 14,392 Bitcoin52,024 - - 52,024 Receivable for bitcoin collateral- 32,497 - 32,497 Accounts receivable758 - - 758 Derivative asset- - 93,000 93,000 $68,574 $32,497 $93,000 $194,071 Liabilities included in:Short-term borrowingsBitcoin loan payable$10,459 $- $- $10,459 $10,459 $- $- $10,459 

24

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

Fair Value Measured as of December 31, 2024Level 1Level 2Level 3TotalAssets included in:   Cash and cash equivalents   Money market securities$4,314 $- $- $4,314 Restricted cashMoney market securities14,392 - - 14,392 Bitcoin92,651 - - 92,651 Receivable for bitcoin collateral- 32,248 - 32,248 Accounts receivable596 - - 596 Derivative asset- - 85,670 85,670 $111,953 $32,248 $85,670 $229,871 Liabilities included in:  Short-term borrowingsBitcoin loan payable$7,330 $- $- $7,330 $7,330 $- $- $7,330 The carrying values reported in the Company’s consolidated