Company: CIFRW
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001819989-25-000005
Chunk: 113

Company: Cipher Mining Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 8
Chunk 113
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 these consolidated financial statements.

F-7

CIPHER MINING INC.

 CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

Year Ended December 31,20242023Cash flows from operating activitiesNet loss$(44,635)$(25,777)Adjustments to reconcile net loss to net cash used in operating activities:Depreciation101,798 58,972 Amortization of intangible assets650 121 Amortization of operating right-of-use asset1,249 822 Share-based compensation42,132 38,470 Equity in losses (gains) of equity investees384 2,530 Loss on disposal of assets290 - Non-cash lease expense919 1,940 Deferred income taxes(937)3,366 Bitcoin received as payment for services(151,296)(126,319)Change in fair value of derivative asset7,921 (26,836)Change in fair value of warrant liability(250)243 Change in fair value of bitcoin collateral(546)- Change in fair value of bitcoin loan(669)- Unrealized gains on fair value of bitcoin(11,313)(3,299)Realized gains on sale of bitcoin(51,548)(7,739)Changes in assets and liabilities: Accounts receivable 26 (524) Receivables, related party (1,845)(1,203) Prepaid expenses and other current assets 283 3,531  Security deposits 12,370 (6,125) Other non-current assets (3,958)-  Accounts payable 7,997 (9,306) Accounts payable, related party - (1,529) Accrued expenses and other current liabilities 3,467 5,311  Lease liabilities - (890)Net cash used in operating activities(87,511)(94,241)Cash flows from investing activitiesProceeds from sale of bitcoin148,870 111,188 Deposits on equipment(162,958)(33,906)Purchases of property and equipment(139,495)(20,480)Purchases and development of software(1,423)(634)Capital distributions from equity investees- 3,808 Investment in equity investees(37,123)(3,545)Prepayments on financing lease- (3,676)Net cash (used in) provided