Company: CIFRW
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001819989-25-000112
Chunk: 272

Company: Cipher Mining Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part II, Item 3
Chunk 272
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 Months Ended September 30,2025202420252024 Reconciliation of Adjusted Earnings: Net loss$(3,283)$(86,754)$(88,039)$(62,145) Change in fair value of power purchase agreement9,030 48,520 17,180 19,181  Share-based compensation expense 9,074 10,211 28,736 31,865  Depreciation and amortization 59,549 28,636 147,102 66,131  Deferred income tax (benefit) expense 464 (4,013)(399)1,358  Other (losses) gains - nonrecurring(2,246)— 4,049 —  Change in fair value of warrant liability (31,860)— (31,860)(250) Adjusted earnings (loss)$40,728 $(3,400)$76,769 $56,140 

The following is a reconciliation of our Adjusted Earnings (loss) per share - diluted to the most directly comparable GAAP measure for the periods indicated:

Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Reconciliation of Adjusted Earnings per share - diluted:Net loss per share - diluted$(0.01)$(0.26)$(0.23)$(0.20)Change in fair value of power purchase agreement per diluted share0.03 0.14 0.03 0.07 Share-based compensation expense per diluted share0.02 0.03 0.08 0.10 Depreciation and amortization per diluted share0.15 0.09 0.39 0.21 Deferred income tax (benefit) expense per diluted share— (0.01)— —  Other (losses) gains - nonrecurring per diluted share(0.01)— 0.01 — Change in fair value of warrant liability per diluted share(0.08)— (0.08)— Adjusted earnings (loss) per diluted share$0.10 $(0.01)$0.20 $0.18 

Critical Accounting Policies, and Use of Estimates

For a description of our policies regarding our critical accounting estimates, see "Critical Accounting Policies and Estimates" of Part II, Item 7 "Management's Discussion and Analysis of Financial Condition