Company: CIFRW
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001819989-25-000112
Chunk: 185

Company: Cipher Mining Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part II, Item 2
Chunk 185
---
 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)$5,834 $8,117 (1)As of September 30, 2025, the Company recorded accumulated amortization of $6.6 million for the finance lease ROU asset. Finance lease ROU assets are recorded within property and equipment, net on the Company’s condensed consolidated balance sheets.

22

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

As of September 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$1,208 $2,612 $3,820 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 payments9,265 17,668 26,933 Less present value discount(945)(5,087)(6,032)Total$8,320 $12,581 $20,901 

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 September 30, 2025. In the normal course of business, the Company enters into contracts with suppliers, primarily related to construction, and has commitments of approximately $326.4 million as of September 30, 2025.ContingenciesThe Company, and its subsidiaries, are subject at times to various claims, lawsuits and governmental proceedings relating to the Company’s business and transactions arising in the ordinary course of business. The Company cannot predict the final outcome of such proceedings. Where appropriate, the Company vigorously defends such claims, lawsuits and proceedings. Some of these claims,