UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | |----------------------------------------------------------------------------------------------------------------------------|------------------------------------------| | | | | ...

Cipher Mining Inc. (NASDAQ:CIFR) Q1 2023 Earnings Conference Call May 9, 2023 8:00 AM ET Company Participants Josh Kane - Head of IR Tyler Page - CEO Ed Farrell - CFO Conference Call Participants John Todaro - Needham Joseph Vafi - Canaccord Will Carlson - Cantor Fitzgerald Operator Good morning, and welcome to the Cipher Mining First Quarter 2023 Conference Call. All lines have been placed on use to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. [Ope ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR | --- | --- | |----------------------------------------------------------------------------------------------------------------------------|------------------------------------------| | | | | For the transition period from | to . | | Commission File Number: | 001-39625 | | CIPHER MINING INC. ...

Financial Data and Key Metrics Changes - For the year ended December 31, 2022, the company reported a net loss of $39.1 million, resulting in a net loss of $0.16 per share, with revenue of $3 million generated entirely from Bitcoin mining operations [51][35] - The change in fair value of the Odessa power agreement resulted in a gain of $73.5 million, offset by equity losses totaling $37 million [51][49] - General and administrative expenses for the year were $70.8 million, including stock-based compensation of $41.5 million [52] Business Line Data and Key Metrics Changes - The company ended February 2023 with the ability to mine over 15.5 Bitcoin per day and held 465 Bitcoin in reserve [7] - As of the end of February 2023, Cipher reported 5.2 exahash per second of self-mining operations across all sites, with potential expansion to 8.2 exahash per second by year-end 2023 [17][33] - The Odessa data center began operations in November 2022, mining 180 Bitcoin from November 22, 2022, to December 31, 2022 [35] Market Data and Key Metrics Changes - The company noted that energy prices have softened recently, but there are still more mining rigs looking for homes than available sites with good mining cost economics [11] - The average electricity cost per Bitcoin produced at the Alborz site was approximately $5,143, while at Bear and Chief, it was about $6,293 [21][40] Company Strategy and Development Direction - Cipher Mining aims to control electricity costs and capital expenditures to maintain low production costs, positioning itself as a low-cost producer in the Bitcoin mining industry [10] - The company is focused on organic growth opportunities within its existing portfolio, particularly at the Odessa site, while remaining open to low-risk cyclical opportunities [24][30] - The company plans to manage growth prudently amid challenging market conditions and financing environments [33][48] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the long-term potential for Bitcoin, despite current market challenges, and emphasized the importance of maintaining a strong liquidity profile [12][61] - The management team highlighted that they have no debt obligations and are funding operations through current Bitcoin production, which positions them well for future growth [49][50] Other Important Information - The company has access to a $250 million at-the-market equity shelf but has yet to utilize it [47] - The company has a strong focus on proactive counterparty risk management, maintaining accounts with major banks [12] Q&A Session Summary Question: How is the company thinking about CapEx spend needed to expand at Bear and Chief? - Management indicated that financing options could include debt financing, equity sales, or operational cash flow, depending on market conditions [57] Question: What prices is the company currently seeing for rigs? - Management noted that rig prices are constantly shifting, and they are prepared to purchase rigs at potentially below manufacturing costs, but will wait until infrastructure is in place [69] Question: How does the company evaluate the use of the $250 million shelf offering? - Management stated that they would consider using it for accretive opportunities, particularly if they find favorable rig prices [72] Question: What is the company's strategy regarding Bitcoin inventory? - Management aims to build Bitcoin inventory slowly over time while liquidating some to cover operational expenses [137] Question: How does the company view the potential excise tax on electricity for digital mining? - Management expressed skepticism about the proposal's likelihood of passing and noted that it could have significant implications for the industry [140]

Year Ended Eleven Months Ended | --- | --- | --- | --- | |--------------|-----------------------------------------------------------|-----------------------------------|-----------------------------| | Consolidated | Revenue - bitcoin mining | December 31, 2022 \n$ 3,037 | December 31, 2021 \n$ - | | Statement of | Costs and operating expenses (income) | | | | | Cost of revenue | 748 | - | | Operations | General and administrative | 70,836 | 72,147 | | | Depreciation | 4,378 | 5 | | | Change in fair value o ...

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Cipher Mining Inc. (NASDAQ:CIFR) Q3 2022 Earnings Conference Call November 14, 2022 8:00 AM ET Company Participants Lori Barker - IR Tyler Page - CEO Ed Farrel - CFO Conference Call Participants Mike Colonnese - H.C. Wainwright Operator Good morning. Thank you for standing by, and welcome to Cipher Mining's Third Quarter 2022 Business Update Conference Call. Please be advised, today's conference is being recorded and a replay will be available on Cipher Mining's Investor Relations website. I would now like ...

*: Cipher Mining November 14, 2022 Safe Harbor • This presentation has been prepared by Cipher Mining Inc. and is made for informational purposes only. The information set forth herein does not purport to be complete or to contain all of the information you may desire. You must evaluate, and bear all risks associated with, the use of any information provided hereunder, including any reliance on the accuracy, completeness, safety or usefulness of such information. This information is not intended to be used ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒ Smaller reporting company ☒ Emerging growth company ☒ FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCH ...

Cipher Mining, Inc. (NASDAQ:CIFR) Q2 2022 Earnings Conference Call August 9, 2022 8:00 AM ET Company Participants Lori Barker - Investor Relations Tyler Page - Chief Executive Officer Ed Farrel - Chief Financial Officer Conference Call Participants Kevin Dede - H.C. Wainwright Operator Good morning. Thank you for standing by and welcome to Cipher Mining's Second Quarter 2022 Business Update Conference Call. Please be advised, today's conference is being recorded and a replay will be available on Cipher Mini ...