Company: CIFRW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001819989-25-000081
Chunk: 53

Company: Cipher Mining Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 53
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,635 $5,007 $77,520 $232,162 

28

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

Fair Value Measured as of December 31, 2024Level 1Level 2Level 3TotalAssets included in:   Cash and cash equivalents   Money market securities$4,314 $- $- $4,314 Restricted cashMoney market securities14,392 - - 14,392 Bitcoin92,651 - - 92,651 Receivable for bitcoin collateral- 32,248 - 32,248 Accounts receivable596 - - 596 Derivative asset- - 85,670 85,670 $111,953 $32,248 $85,670 $229,871 Liabilities included in:  Short-term borrowingsBitcoin loan payable$7,330 $- $- $7,330 $7,330 $- $- $7,330 The Company’s financial assets and liabilities not subject to fair value measurement on a recurring basis and the level of inputs used for such measurements were as follows as of the dates indicated (in thousands):June 30, 2025Total carrying valueLevel 1Level 2Level 3TotalLiabilities included in:Long-term borrowings2030 Convertible Notes$167,113 $- $222,380 $- $222,380 $167,113 $- $222,380 $- $222,380 December 31, 2024Total carrying valueLevel 1Level 2Level 3TotalLiabilities included in:Long-term borrowings2030 Convertible Notes$- $- $- $- $- $- $- $- $- $- The carrying values reported in the Company’s consolidated balance sheets for cash (excluding cash equivalents which are recorded at fair value on a recurring basis), accounts payable and accrued expenses and other current liabilities are reasonable estimates of their fair values due to the short-term nature of these items.There were no transfers of financial instruments between Level 1, Level 2 and Level 3 during the periods presented.Level 3 assetThe Company’s derivative asset, related to the Luminant Power Agreement, is divided between current