Company: CIFRW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001819989-25-000081
Chunk: 190

Company: Cipher Mining Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part II, Item 3
Chunk 190
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”), and chief financial officer (“CFO”). The CODM reviews the performance of its segment primarily based on operating income when deciding on allocating resources between reinvesting in Bitcoin Mining or exploring alternative deployment of resources.Restricted cashRestricted cash represents amounts pledged as collateral to Luminant ET Services Company LLC (“Luminant”, and Vistra Operations Company, LLC (“Vistra”), a Luminant affiliate, primarily related to the Luminant Power Agreement (defined below in Note 4. Derivative Asset). The collateral restrictions related to the Luminant Power Agreement will lapse upon termination of the agreement.Earnings per shareBasic earnings (loss) per share is computed by dividing net income (loss) allocated to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per common share adjusts net income (loss) and net income (loss) per common share for the effect of all potentially dilutive shares of Common Stock. Potentially dilutive common shares consist of the Company’s outstanding warrants to purchase Common Stock, Common Stock to settle convertible notes, as well as unvested restricted stock units (“RSUs”). The dilutive effect of RSUs was calculated using the treasury stock method. For warrants that are liability-classified, during periods when the impact is dilutive, the Company assumes share settlement of the instruments as of the beginning of the reporting period and adjusts the numerator to remove the change in fair value of the warrant liability and adjusts the denominator to include the dilutive shares calculated using the treasury stock method.The Company’s potentially dilutive common shares have been excluded from the computation of diluted net loss per common share when the effect would be to reduce the net loss per common share, or increase the net income per common share.The following is a reconciliation of the numerator and denominator of the diluted earnings (loss) per share computations for the periods indicated below:Three Months Ended June 30,Six Months Ended June 30,2025202420252024Basic and diluted loss per share:Net (loss) income$(45,781)$(15,291)$(84,756)$24,609 Weighted average shares outstanding - basic375,052,248314,353,742367,823,593305,497,621Add:RSUs---11,154,679Weighted average shares outstanding - diluted375,052,248314,353,742367,823,593316,652,300Net (loss) income per share - basic and diluted$(0.12)$(