Company: CIFRW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001819989-25-000081
Chunk: 170

Company: Cipher Mining Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part II, Item 2
Chunk 170
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,046 $112,089 

Components of our Results of Operations

For a description of the components of our results of operations, refer to the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” section of our 2024 Form 10-K.

36

Results of Operations

The following table sets forth our results of operations for the periods indicated (in thousands):

Three Months Ended June 30,Six Months Ended June 30,2025202420252024Revenue - bitcoin mining$43,565 $36,808 $92,524 $84,945 Costs and operating (expenses) incomeCost of revenue(15,330)(14,281)(30,224)(29,101)Compensation and benefits(15,659)(16,285)(29,962)(29,321)General and administrative(9,078)(8,365)(18,029)(14,442)Depreciation and amortization(44,086)(20,251)(87,553)(37,495)Change in fair value of derivative asset(15,480)21,980 (8,150)29,339 Power sales1,376 1,109 2,367 2,282 Equity in (losses) income of equity investees(1,701)(577)(6,993)161 Unrealized gains (losses) on fair value of bitcoin17,143 (21,178)(3,035)19,378 Realized (losses) gains on sale of bitcoin(3,639)4,869 8,557 4,869 Other operating losses(2,354)- (2,833)- Total costs and operating expenses(88,808)(52,979)(175,855)(54,330)Operating (loss) income(45,243)(16,171)(83,331)30,615 Other income (expense)Interest income296 1,053 486 1,839 Interest expense(1,137)(372)(1,914)(772)Change in fair value of warrant liability- - - 250 Other income (expense)1,220 727 1,064 (1,231)Total other income (expense)379 1,408 (364)86 (Loss) income before taxes(44,864)(14,763)(83,695)30,701 Current income tax