Company: CIFRW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001819989-25-000081
Chunk: 96

Company: Cipher Mining Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part II, Item 1A
Chunk 96
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 below (dollar amounts in thousands):Three Months Ended June 30,Six Months Ended June 30,2025202420252024Operating cash flows - operating lease$565 $438 $1,078 $839 Right-of-use asset obtained in exchange for operating lease liabilities$491 $— 491$— June 30, 2025December 31, 2024Weighted-average remaining lease term – finance lease (in years)2.22.7Weighted-average remaining lease term – operating lease (in years)7.68.0Weighted-average discount rate – finance lease11.0 %11.0 %Weighted-average discount rate – operating lease8.0 %8.0 %Finance lease ROU assets(1)$6,595 $8,117 (1)As of June 30, 2025, the Company recorded accumulated amortization of $5.8 million for the finance lease ROU asset. Finance lease ROU assets are recorded within property and equipment, net on the Company’s consolidated balance sheets.As of June 30, 2025, future minimum lease payments during the next five years are as follows (in thousands): Finance Lease Operating Lease Total Remaining Year Ended December 31, 2025$2,417 $3,183 $5,600 Year Ended December 31, 20264,834 2,491 7,325 Year Ended December 31, 20273,223 2,502 5,725 Year Ended December 31, 2028— 2,284 2,284 Year Ended December 31, 2029— 1,111 1,111 Thereafter— 6,668 6,668 Total lease payments10,474 18,239 28,713 Less present value discount(1,193)(5,742)(6,935)Total$9,281 $12,497 $21,778 

22

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

NOTE 13. COMMITMENTS AND CONTINGENCIES 

CommitmentsIn the normal course of business, the Company enters into contracts that contain a variety of indemnifications with its employees, licensors, suppliers and service providers. The Company’s maximum exposure under these arrangements, if any, is unknown as of June 30, 2025.Contingencies