Company: CIFRW
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001819989-25-000005
Chunk: 39

Company: Cipher Mining Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 16
Chunk 39
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 stock, at par, 10,648,632 and 5,318,674 shares at December 31, 2024 and December 31, 2023, respectively(11)(5)Total stockholders’ equity681,953 491,336 Total liabilities and stockholders’ equity$855,446 $566,137 

F-4

The accompanying notes are an integral part of these consolidated financial statements.

F-5

CIPHER MINING INC.

 CONSOLIDATED STATEMENTS OF OPERATIONS

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

Year Ended December 31,20242023Revenue - bitcoin mining$151,270 $126,842 Costs and operating (expenses) incomeCost of revenue(62,364)(50,309)Compensation and benefits(60,796)(57,399)General and administrative(32,655)(27,796)Depreciation and amortization(102,448)(59,093)Change in fair value of derivative asset(7,921)26,836 Power sales5,405 9,941 Equity in losses of equity investees(384)(2,530)Unrealized gains on fair value of bitcoin11,313 3,299 Realized gains on sale of bitcoin51,548 7,739 Other gains3,333 2,355 Total costs and operating expenses(194,969)(146,957)Operating loss(43,699)(20,115)Other income (expense)Interest income3,384 164 Interest expense(1,708)(1,999)Change in fair value of warrant liability250 (243)Other expense(2,544)(17)Total other income (expense)(618)(2,095)Loss before taxes(44,317)(22,210)Current income tax expense(1,255)(201)Deferred income tax benefit (expense)937 (3,366)Total income tax benefit (expense)(318)(3,567)Net loss$(44,635)$(25,777)Loss per share - basic and diluted$(0.14)$(0.10)Weighted average shares outstanding - basic and diluted323,103,303252,439,461

The accompanying notes are an integral part of these consolidated financial statements.

F-6

  CIPHER MINING INC.

 CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (DEFICIT