Company: CIFRW
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001819989-25-000005
Chunk: 70

Company: Cipher Mining Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 16
Chunk 70
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December 31, 2024December 31, 2023Weighted-average remaining lease term – finance lease (in years)2.73.7Weighted-average remaining lease term – operating lease (in years)8.05.8Weighted-average discount rate – finance lease11.0 %11.0 %Weighted-average discount rate – operating lease8.0 %10.0 %Finance lease ROU assets(1)$8,117 $11,160 (1)As of December 31, 2024, the Company recorded accumulated amortization of $4.3 million for the finance lease ROU asset. Finance lease ROU assets are recorded within property and equipment, net on the Company’s consolidated balance sheets.As of December 31, 2024, future minimum lease payments during the next five years are as follows (in thousands): Finance Lease Operating Lease Total Year Ended December 31, 2025$4,834 $4,112 $8,946 Year Ended December 31, 20264,834 2,293 7,127 Year Ended December 31, 20273,223 2,304 5,527 Year Ended December 31, 2028— 2,284 2,284 Year Ended December 31, 2029- 1,111 1,111 Thereafter- 6,668 6,668 Total lease payments12,891 18,772 31,663 Less present value discount(1,762)(5,812)(7,574)Total$11,129 $12,960 $24,089 

NOTE 14. COMMITMENTS AND CONTINGENCIES 

CommitmentsIn the normal course of business, the Company enters into contracts that contain a variety of indemnifications with its employees, licensors, suppliers and service providers. The Company’s maximum exposure under these arrangements, if any, is unknown as of December 31, 2024.ContingenciesThe Company, and its subsidiaries, are subject at times to various claims, lawsuits and governmental proceedings relating to the Company’s business and transactions arising in the ordinary course of business. The Company cannot predict the final outcome of such proceedings. Where appropriate, the Company vigorously defends such claims, lawsuits and proceedings. Some of these claims, lawsuits and proceedings seek damages, including consequential, exemplary or punitive damages, in amounts that could, if awarded, be significant. Certain of