Company: CIFRW
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001819989-25-000037
Chunk: 158

Company: Cipher Mining Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part II, Item 5
Chunk 158
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NOTE 17. FAIR VALUE MEASUREMENTS

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Financial assets and liabilities measured at fair value are classified and disclosed in one of the following categories based on the inputs used to derive the fair value:Level 1 — Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;Level 2 — Quoted prices in markets that are not active and financial instruments for which all significant inputs are observable, either directly or indirectly; or Level 3 — Prices or valuations that require inputs that are both significant to the fair value measurement and unobservableThe Company’s financial assets and liabilities 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):Fair Value Measured as of March 31, 2025Level 1Level 2Level 3TotalAssets included in:Cash and cash equivalentsMoney market securities$1,400 $- $- $1,400 Restricted cashMoney market securities14,392 - - 14,392 Bitcoin52,024 - - 52,024 Receivable for bitcoin collateral- 32,497 - 32,497 Accounts receivable758 - - 758 Derivative asset- - 93,000 93,000 $68,574 $32,497 $93,000 $194,071 Liabilities included in:Short-term borrowingsBitcoin loan payable$10,459 $- $- $10,459 $10,459 $- $- $10,459 

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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 - -