Company: CIFRW
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001819989-25-000005
Chunk: 130

Company: Cipher Mining Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1
Chunk 130
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PC applications. We are currently exploring opportunities with potential tenants to develop some of our sites into HPC or AI data centers, including our Barber Lake facility. For the sites in our development pipeline that are attractive for HPC, we will continue to explore developing them for HPC and entering into long term lease arrangements with hyperscalers or other AI and HPC companies.  To the extent we do not find such tenants for any particular site on terms that are attractive to us, then we will consider using the site for bitcoin mining.

Our Strengths

We believe we have strengths that give us a competitive advantage in the data center construction and operations business, including the following. 

Valuable assets with strategic adjacencies and potential long-term opportunities

We believe we are strategically well-positioned to continue developing and expanding our data center operations business, and also to enhance them through other long-term opportunities in the Bitcoin ecosystem and beyond. Those opportunities could include, for example, potential partnerships with larger companies in HPC, energy, technology and financial services, as well as offering construction, operational and data science services associated with bitcoin mining or HPC hosting. 

5

We believe demands for data center infrastructure have increased substantially and that the data center industry is poised for continued significant growth, driven by rapid adoption of digital technologies across all sectors, such as bitcoin mining and HPC. We believe our valuable portfolio of data center sites and our ability to continue sourcing and developing sites is a key strategic advantage against this competitive landscape.  

Key management’s track record with relevant expertise and capabilities

We have an experienced executive management team with many years of relevant experience and significant industry and technical knowledge. The executive management team has recruited talented employees with experience and expertise in finance, data science, data center construction and operation, power procurement, logistics, and computer science fields. Many of our employees have significant management experience, which complements our business model and talent management philosophy that favors a lean head count structure and the use of third-party vendors and contractors, as well as technology, to reduce fixed costs. We hope to leverage the talents and efforts of the entire team in developing and operating our data centers and in sourcing new opportunities.  We believe our team’s experience and ability to source data center sites in the face of extreme demand is a valuable asset to the business.  

Scalable operations sourced by identifying attractive site characteristics  

We believe we have developed a valuable power portfolio across our current and future pipeline of sites and that we have developed a repeatable power strategy to significantly scale our operations