Company: CIFRW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001819989-25-000081
Chunk: 93

Company: Cipher Mining Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part II, Item 1A
Chunk 93
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0.2 million and $0.3 million for the three and six months ended June 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$413 Year Ended December 31, 2026827 Year Ended December 31, 2027827 Year Ended December 31, 2028735 Year Ended December 31, 2029$525 

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

NOTE 9. SECURITY DEPOSITS

The Company’s security deposits consisted of the following (in thousands):June 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 deposits3,281 972 Total security deposits$13,794 $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 June 30, 2025 the Company believes these deposits will be returned.

NOTE 10. SUPPLEMENTAL FINANCIAL INFORMATION

Prepaid expenses and other current assets were $7.4 million and $3.4 million as of June 30, 2025 and December 31, 2024, respectively, primarily consisting of the Bitmain Bitcoin Option as of June 30, 2025, and prepaid insurance as of December 31, 2024.The Company’s accrued expenses and other current liabilities consisted of the following (in thousands):June 30, 2025December 31, 2024Taxes (primarily sales tax)$16,200 $14,607 Professional fees4,883 4,449 Employee compensation4,257 8,246 Power costs3,862 — Other907 1,329 Construction costs71 2,675 Barber Lake site deposit payable— 8,