Company: CIFRW
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001819989-25-000037
Chunk: 52

Company: Cipher Mining Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part II, Item 1A
Chunk 52
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CIPHER MINING INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except for share and per share amounts)

(unaudited)

March 31, 2025December 31, 2024ASSETSCurrent assetsCash and cash equivalents$23,173 $5,585 Accounts receivable758 596 Receivables, related party300 2,090 Prepaid expenses and other current assets2,970 3,387 Bitcoin52,024 92,651 Receivable for bitcoin collateral32,497 32,248 Derivative asset42,835 31,648 Total current assets154,557 168,205 Restricted cash14,392 14,392 Property and equipment, net477,972 480,865 Deposits on equipment122,502 38,872 Intangible assets, net9,043 8,881 Investment in equity investees48,499 53,908 Derivative asset50,165 54,022 Operating lease right-of-use asset12,192 12,561 Security deposits19,776 19,782 Other noncurrent assets4,694 3,958 Total assets$913,792 $855,446 LIABILITIES AND STOCKHOLDERS’ EQUITYCurrent liabilitiesAccounts payable$29,879 $22,699 Accrued expenses and other current liabilities66,300 69,824 Finance lease liability, current portion3,903 3,798 Operating lease liability, current portion3,200 3,127 Short-term borrowings35,459 32,330 Total current liabilities138,741 131,778 Asset retirement obligations20,801 20,282 Finance lease liability6,315 7,331 Operating lease liability9,506 9,833 Deferred tax liability3,634 4,269 Total liabilities178,997 173,493 Commitments and contingencies (Note 13)Stockholders’ equityPreferred stock, $0.001 par value; 10,000,000 shares authorized, none issued and outstanding as of March 31, 2025, and December 31, 2024- - Common stock, $0.001 par value, 500,000,000 shares authorized, 371,313,598 and 361,432,449 shares issued as of March 31