Company: CIFRW
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001819989-25-000005
Chunk: 67

Company: Cipher Mining Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 16
Chunk 67
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 As of December 31, 2024, this collateral balance was moved to a money market account owned by the Company and is classified as restricted cash.As part of the asset acquisition to acquire the Barber Lake Facility, the Company acquired a deposit with Oncor Electric Delivery Company LLC (“Oncor”) of $8.3 million which had previously been paid by the seller. As part of the transaction, the Company must remit the deposit to the seller upon receipt. As such the Company has recorded a corresponding liability in Accrued expenses and other liabilities on the consolidated balance sheet as of December 31, 2024.As part of the transaction to acquire a wholly-owned site in Texas (the “Stingray Facility”), the Company paid a deposit to Oncor of $4.2 million to construct infrastructure to energize the data center to be returned to the Company if the Stingray Facility uses 100 MW by May 15, 2027.

F-24

CIPHER MINING INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 10. SUPPLEMENTAL FINANCIAL INFORMATION

Prepaid expenses and other current assets were $3.4 million and $3.7 million as of December 31, 2024 and December 31, 2023, respectively, primarily consisting of prepaid insurance as of December 31, 2024, and December 31, 2023.The Company’s accrued expenses and other current liabilities consisted of the following (in thousands):December 31, 2024December 31, 2023Taxes (primarily sales tax)$14,607 $15,184 Barber Lake Site Deposit Payable8,297 — Construction Costs2,675 — Employee Compensation8,246 5,800 Remaining payments for miners in service30,221 - Professional fees4,449 - Power Costs— 139 Legal settlement— 1,000 Other1,329 316 Total accrued expenses and other current liabilities$69,824 $22,439 

NOTE 11. RELATED PARTY TRANSACTIONS

Related party receivablesThe Company recorded related party receivables of approximately $2.1 million and $0.2 million, as of December 31, 2024 and December 31, 2023, respectively, representing amounts owed to the Company from its equity method investees.Purchase commitments, deposits on equipment and related party payablesOn April