Company: CIFRW
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001819989-25-000112
Chunk: 222

Company: Cipher Mining Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part II, Item 3
Chunk 222
---
Balance as of September 30, 2024355,771,238$356 $870,565 $(198,922)(7,971,052)$(8)$671,991 

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

9

CIPHER MINING INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

(unaudited)

10

Nine Months Ended September 30,20252024Cash flows from operating activitiesNet loss$(88,039)$(62,145)Adjustments to reconcile net loss to net cash used in operating activities: Depreciation 146,503 65,661  Amortization of intangible assets 599 470  Amortization of operating right-of-use asset 1,205 888  Share-based compensation 27,830 31,865  Equity in losses (gains) of equity investees 8,472 (1,008) Loss on disposal of assets 666 -  Non-cash lease expense 817 429 Other operating activities- (1,235)Income taxes (399)1,358 Non-cash consideration received for services(164,131)(109,443)Change in fair value of derivative assets9,921 19,181 Change in fair value of warrant liability (31,860)(250)Change in fair value of bitcoin collateral (5,731)- Change in fair value of bitcoin loan782 - Unrealized loss on fair value of bitcoin 2,927 2,778 Realized gains on sale of bitcoin (16,092)(25,114)Changes in assets and liabilities:  Accounts receivable (100)396  Receivables, related party 1,782 186  Prepaid expenses and other current assets (579)182  Security deposits 7,737 16,851  Other non-current assets (4,350)(210) Accounts payable (13,969)565 Accounts payable, related party- 62 Accrued expenses and other liabilities(36,626)-  Lease liabilities (871)- Net cash used in operating activities(153,506)(58,533)Cash flows from investing activities Proceeds from sale of bitcoin 150,226 79,785  Deposits on equipment (934)(135,262)