Cipher Mining Inc

For the period ended Jun 30, 2024. Filed Aug 13, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2024 · Filed Aug 13, 2024

CIFR$6.53-4.1%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Condensed Consolidated Statements of Operations

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

	Three months ended June 30,		Six months ended June 30,
	2024	2023	2024	2023
Revenue - bitcoin mining	$36,808	$31,224	$84,945	$53,119
Costs and operating expenses (income)
Cost of revenue	14,281	15,868	29,101	24,009
Compensation and benefits	16,285	12,668	29,321	24,605
General and administrative	8,365	8,667	14,442	14,150
Depreciation and amortization	20,251	14,412	37,495	26,067
Change in fair value of derivative asset	(21,980)	(3,222)	(29,339)	(8,550)
Power sales	(1,109)	(5,651)	(2,282)	(5,749)
Equity in losses (gains) of equity investees	577	1,431	(161)	2,181
Losses (gains) on fair value of bitcoin	16,309	(860)	(24,247)	(5,124)
Other gains	-	-	-	(2,260)
Total costs and operating expenses (income)	52,979	43,313	54,330	69,329
Operating (loss) income	(16,171)	(12,089)	30,615	(16,210)
Other income (expense)
Interest income	1,053	25	1,839	101
Interest expense	(372)	(485)	(772)	(886)
Change in fair value of warrant liability	-	(22)	250	(59)
Other income (expense)	727	(12)	(1,231)	(12)
Total other income (expense)	1,408	(494)	86	(856)
(Loss) income before taxes	(14,763)	(12,583)	30,701	(17,066)
Current income tax expense	(335)	(31)	(721)	(48)
Deferred income tax expense	(193)	(584)	(5,371)	(637)
Total income tax expense	(528)	(615)	(6,092)	(685)
Net (loss) income	$(15,291)	$(13,198)	$24,609	$(17,751)
Net (loss) income per share - basic and diluted	$(0.05)	$(0.05)	$0.08	$(0.07)
Weighted average shares outstanding - basic	314,353,742	249,127,664	305,497,621	248,892,181
Weighted average shares outstanding - diluted	314,353,742	249,127,664	316,652,300	248,892,181

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY

(in thousands, except for share amounts)

Three Months Ended June 30, 2024

Common Stock · Additional · Accumulated · Treasury Stock · Total
	Shares	Amount	Paid-in Capital	Deficit	Shares	Amount	Stockholders’ Equity
Balance as of March 31, 2024	312,649,102	$313	$697,494	$(96,877)	(6,105,772)	$(6)	$600,924
Issuance of common shares, net of offering costs - At-the-market offering	20,626,145	21	95,836	-	-	-	95,857
Delivery of common stock underlying restricted stock units, net of shares settled for tax withholding settlement	2,282,625	3	(4,057)	-	(835,674)	(1)	(4,055)
Share-based compensation	-	-	13,337	-	-	-	13,337
Net loss	-	-	-	(15,291)	-	-	(15,291)
Balance as of June 30, 2024	335,557,872	$336	$802,610	$(112,168)	(6,941,446)	$(7)	$690,771

Three Months Ended June 30, 2023

Common Stock · Additional · Accumulated · Treasury Stock · Total
Shares · Amount · Paid-in Capital · Deficit · Shares · Amount · Stockholders’ Equity
Balance as of March 31, 2023	253,050,088	$253	$462,181		$(115,553)		(4,144,081)		$(4)			$346,877
Issuance of common shares, net of offering costs - At-the-market offering	978,207	1	2,744							2,745
Delivery of common stock underlying restricted stock units, net of shares settled for tax withholding settlement	674,817	-	(632)		-		(237,654)		-			(632)
Share-based compensation	92,514	-	9,178		-		-		-			9,178
Net loss	-	-		(13,198)		-		-			(13,198)
Balance as of June 30, 2023	254,795,626	$254	$473,471		$(128,751)		(4,381,735)		$(4)			$344,970

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.