Company: CIFRW
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001819989-25-000037
Chunk: 13

Company: Cipher Mining Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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)(217)Net cash used in operating activities(47,238)(26,636)Cash flows from investing activities Proceeds from sale of bitcoin 90,005 -  Deposits on equipment (75,105)(4,536) Purchases of property and equipment (24,570)(7,902) Purchases and development of software (352)(200)Investment in equity investees(7,276)(18,319)Net cash used in provided by investing activities(17,298)(30,957)Cash flows from financing activities Proceeds from treasury stock reissued for PIPE investment50,000 -  Proceeds from the issuance of common stock 34,524 66,171  Offering costs paid for the issuance of common stock (345)(1,623) Repurchase of common shares to pay employee withholding taxes (1,144)(3,177) Principal payments on financing lease (911)(1,208)Net cash provided by financing activities82,124 60,163 Net increase in cash, cash equivalents, and restricted cash 17,588 2,570 Cash, cash equivalents, and restricted cash, beginning of the period19,977 86,105 Cash and cash equivalents, and restricted cash, end of the period$37,565 $88,675 

9

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements

CIPHER MINING INC.

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - CONTINUED

(in thousands)

(unaudited)

Three Months Ended March 31,20252024Supplemental disclosure of noncash investing and financing activitiesBitcoin received as a loan$16,551 $- Property and equipment purchases in accounts payable and accrued expenses$26,374 $- Bitcoin loan payments$14,830 $- Bitcoin received from equity investees$7,394 $1,694 Bitcoin transferred for rehypothecated collateral$3,005 $- Treasury stock reissued for PIPE investment$10 $- Settlement of related party payable related to master services and supply agreement$- $1,554 Reclassification of deposits on equipment to property and equipment$- $5,161 

The following table provides a reconciliation of Cash and cash equivalents together with Restricted cash as reported within the Consolidated Balance Sheets to the sum of the same