Company: CIFRW
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001819989-25-000037
Chunk: 99

Company: Cipher Mining Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part II, Item 2
Chunk 99
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 (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 

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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 such amounts shown in the Consolidated Statements of Cash Flows.

March 31,20252024Cash and cash equivalents$23,173 $88,675 Restricted cash14,392 - Total cash, cash equivalents, and restricted cash shown in the statement of cash flows$37,565 $88,675 

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

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CIPHER MINING INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(unaudited)

NOTE 1. ORGANIZATION

Nature of operationsCipher Mining Inc. (“Cipher” or the “Company”) is focused on the development and operation of industrial-scale data centers for bitcoin mining and high-performance compute (“HPC”) hosting. The Company operates one wholly-owned bitcoin mining data center, and has equity investments in three partially-owned joint venture bitcoin mining data centers