Company: CIFRW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001819989-25-000081
Chunk: 132

Company: Cipher Mining Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part II, Item 2
Chunk 132
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CIPHER MINING INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except for share and per share amounts)

(unaudited)

Three Months Ended June 30,Six Months Ended June 30,2025202420252024Revenue - bitcoin mining$43,565 $36,808 $92,524 $84,945 Costs and operating (expenses) incomeCost of revenue(15,330)(14,281)(30,224)(29,101)Compensation and benefits(15,659)(16,285)(29,962)(29,321)General and administrative(9,078)(8,365)(18,029)(14,442)Depreciation and amortization(44,086)(20,251)(87,553)(37,495)Change in fair value of derivative asset(15,480)21,980 (8,150)29,339 Power sales1,376 1,109 2,367 2,282 Equity in (losses) income of equity investees(1,701)(577)(6,993)161 Unrealized gains (losses) on fair value of bitcoin17,143 (21,178)(3,035)19,378 Realized (losses) gains on sale of bitcoin(3,639)4,869 8,557 4,869 Other operating losses(2,354)- (2,833)- Total costs and operating expenses(88,808)(52,979)(175,855)(54,330)Operating (loss) income(45,243)(16,171)(83,331)30,615 Other income (expense)Interest income296 1,053 486 1,839 Interest expense(1,137)(372)(1,914)(772)Change in fair value of warrant liability- - - 250 Other income (expense)1,220 727 1,064 (1,231)Total other income (expense)379 1,408 (364)86 (Loss) income before taxes(44,864)(14,763)(83,695)30,701 Current income tax expense(1,145)(335)(1,924)(721)Deferred income tax benefit (expense)228 (193)863 (5,371)Total income tax expense(917)(528)(1,061)(