Company: CIFRW
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001819989-25-000112
Chunk: 198

Company: Cipher Mining Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part II, Item 2
Chunk 198
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 TO CONSOLIDATED FINANCIAL STATEMENTS(unaudited)

Fair Value Measured as of September 30, 2025Level 1Level 2Level 3TotalAssets included in:Cash and cash equivalentsMoney market securities$1,004,421 $- $- $1,004,421 Restricted cashMoney market securities13,779 - - 13,779 Bitcoin170,303 - - 170,303 Accounts receivable696 - - 696 Derivative assetPower Purchase Agreement- - 68,490 68,490 Capped Calls- 89,939 - 89,939 $1,189,199 $89,939 $68,490 $1,347,628 Liabilities included in:Derivative liability$- $- $414,320 $414,320 Warrant liability- - 512,590 512,590 $- $- $926,910 $926,910 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 assetsPower Purchase Agreement- - 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):September 30, 2025Total carrying valueLevel 1Level 2Level 3TotalLiabilities included in:Long-term borrowings2030 Convertible Notes$167,392 $- $517,356 $- $517,356 2031