Company: CIFRW
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001819989-25-000005
Chunk: 175

Company: Cipher Mining Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1A
Chunk 175
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 new and existing competitors, and potential lost opportunities due to the relative financial strength of other market participants;

•developments and innovations in bitcoin mining equipment, including ASIC chip designs;

•changes in consumer preferences and perceived value of digital assets, including due to evolving cryptographic algorithms and emerging trends in the technology securing blockchains;

•publicity and events relating to the blockchain ecosystem, including public perception of the impact of the blockchain ecosystem on the environment and geopolitical developments;

•the correlation between the prices of digital assets, including the potential that a crash in one digital asset or widespread defaults on one digital asset exchange or trading venue may cause a crash in the price of other digital assets, or a series of defaults by counterparties on digital asset exchanges or trading venues;

•fees and speed associated with processing bitcoin transactions;

•level of interest rates and inflation;

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•changes in the legislative or regulatory environment, or actions by governments or regulators that impact monetary policies, fiat currency devaluations, trade restrictions, the digital assets industry generally, or mining operations specifically;

•difficulty obtaining hardware and related installation costs;

•access to cost-effective sources of electrical power;

•adverse legal proceedings or regulatory enforcement actions, judgments, settlements or other legal proceeding and enforcement-related costs;

•increases in operating expenses that we expect to incur to build-up and expand our operations and to remain competitive;

•system failure or outages, including with respect to our mining hardware, power supply and third-party networks;

•breaches of security or data privacy;

•loss of trust in the network due to a latent fault in the Bitcoin network;

•our ability to attract and retain talent;

•our ability to hedge risks related to our ownership of digital assets; and

•the introduction of new digital assets, leading to a decreased adoption of bitcoin.

As a result of these factors, it may be difficult for us to forecast growth trends accurately and our business and future prospects are difficult to evaluate, particularly in the short term. In view of the rapidly evolving nature of our business and the Bitcoin ecosystem, period-to-period comparisons of our operating results may not be meaningful, and you should not rely upon them as an indication of future performance. Quarterly and annual expenses reflected in our financial statements may be significantly different from historical or projected rates, and our operating results in one or more future quarters may fall below the expectations of securities analysts and investors.

The loss or destruction of our private keys to our digital wallets, causing a loss of some or all of our bitcoin assets. 

Digital assets, such as