Company: CIFRW
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001819989-25-000005
Chunk: 77

Company: Cipher Mining Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 16
Chunk 77
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ization equal to or exceeding $5 billion, $7.5 billion and $10 billion, in each case over a 30-day lookback period and subject to the CEO’s continuous service through the end of the applicable 30-day period. In the event of a change in control and CEO’s continuous service through such change in control, the per share price (plus the per share value of any other consideration) received by the Company’s stockholders in such change in control will be used to determine whether any of the market capitalization milestones are achieved (without regard to the 30-day lookback period). Any Performance-Based RSUs that 

F-30

CIPHER MINING INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

do not vest prior to the CEO’s termination of service or, if earlier, in connection with a change in control will be forfeited for no consideration

NOTE 18. FAIR VALUE MEASUREMENTS

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Financial assets and liabilities measured at fair value are classified and disclosed in one of the following categories based on the inputs used to derive the fair value:Level 1 — Unadjusted quoted prices in active markets that are accessible at the measurement date 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 December 31, 2024Level 1Level 2Level 3TotalAssets included in:Cash and cash equivalentsMoney 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,