Company: CIFRW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001819989-25-000081
Chunk: 75

Company: Cipher Mining Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part II, Item 1A
Chunk 75
---
CIPHER MINING INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

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

(unaudited)

June 30, 2025December 31, 2024ASSETSCurrent assetsCash and cash equivalents$62,704 $5,585 Accounts receivable1,575 596 Receivables, related party249 2,090 Prepaid expenses and other current assets7,417 3,387 Bitcoin112,089 92,651 Receivable for bitcoin collateral- 32,248 Derivative asset35,629 31,648 Total current assets219,663 168,205 Restricted cash14,392 14,392 Property and equipment, net473,887 480,865 Deposits on equipment183,028 38,872 Intangible assets, net9,229 8,881 Investment in equity investees45,901 53,908 Derivative asset41,891 54,022 Operating lease right-of-use asset12,288 12,561 Security deposits13,794 19,782 Other noncurrent assets4,686 3,958 Total assets$1,018,759 $855,446 LIABILITIES AND STOCKHOLDERS’ EQUITYCurrent liabilitiesAccounts payable$14,871 $22,699 Accrued expenses and other current liabilities30,180 69,824 Finance lease liability, current portion4,011 3,798 Operating lease liability, current portion3,444 3,127 Short-term borrowings- 32,330 Total current liabilities52,506 131,778 Long-term borrowings, net167,113 - Asset retirement obligations32,110 20,282 Finance lease liability5,270 7,331 Operating lease liability9,450 9,833 Deferred tax liability3,406 4,269 Total liabilities269,855 173,493 Commitments and contingencies (Note 13)Stockholders’ equityPreferred stock, $0.001 par value; 10,000,000 shares authorized, none issued and outstanding as of June 30, 2025, and December 31, 2024- - Common stock, $0.001 par value, 500,000,000 shares authorized, 388,123,588 and