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 ...

[PART I. FINANCIAL INFORMATION](index=5&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) This section provides an overview of the company's financial statements, management's analysis, market risk, and internal controls [Item 1. Financial Statements (Unaudited)](index=5&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) The company reported a $46.7 million net loss with no revenue for the six months ended June 30, 2022, as it progressed its Bitcoin mining buildout [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased slightly to $342.0 million by June 30, 2022, driven by a cash reduction reallocated to equipment deposits and equity investments Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2022 (unaudited) | December 31, 2021 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $37,042 | $209,841 | | Deposits on equipment | $196,707 | $114,857 | | Investment in equity investee | $56,828 | $0 | | **Total Assets** | **$341,951** | **$354,167** | | **Liabilities & Equity** | | | | Total current liabilities | $23,563 | $499 | | Total liabilities | $28,612 | $636 | | Total stockholders' equity | $313,339 | $353,531 | | **Total Liabilities and Stockholders' Equity** | **$341,951** | **$354,167** | [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) The company reported no revenue, with a net loss of $46.7 million for the six months ended June 30, 2022, due to increased G&A and equity investment losses Statement of Operations Summary (in thousands, except per share data) | Metric | Three Months Ended June 30, 2022 | Three Months Ended June 30, 2021 | Six Months Ended June 30, 2022 | Five Months Ended June 30, 2021 | | :--- | :--- | :--- | :--- | :--- | | General and administrative | $16,704 | $546 | $34,094 | $659 | | Equity in loss of equity investment | $12,079 | - | $12,232 | - | | Operating loss | $(29,326) | $(547) | $(46,880) | $(660) | | Net loss | $(29,219) | $(548) | $(46,718) | $(661) | | Basic and diluted net loss per share | $(0.12) | - | $(0.19) | - | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Cash and cash equivalents decreased by $172.8 million, primarily due to $159.8 million used in investing activities for equipment deposits Cash Flow Summary (in thousands) | Cash Flow Activity | Six Months Ended June 30, 2022 | Five Months Ended June 30, 2021 | | :--- | :--- | :--- | | Net cash used in operating activities | $(9,932) | $(1,003) | | Net cash used in investing activities | $(159,815) | - | | Net cash (used in) provided by financing activities | $(3,052) | $4,168 | | **Net (decrease) increase in cash** | **$(172,799)** | **$3,165** | [Notes to Unaudited Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) Notes detail Bitcoin mining operations, significant equipment commitments, joint venture accounting, and management's assessment of sufficient liquidity for the next 12 months - The company began its Bitcoin mining operations in February 2022 at the Alborz facility in Texas, which is operated through a joint venture[40](index=40&type=chunk) - As of June 30, 2022, the company had **$196.7 million** in deposits on equipment, primarily for miners, with significant future commitments remaining[43](index=43&type=chunk) - Management believes existing financial resources, along with projected cash distributions and the ability to delay certain equipment orders, will be sufficient to meet capital requirements for at least the next 12 months[45](index=45&type=chunk)[46](index=46&type=chunk) - A loss of **$11.6 million** was recognized within 'equity in loss of equity investment' during Q2 2022. This occurred because miners contributed to the Alborz joint venture had a fair value lower than their original cost[97](index=97&type=chunk)[104](index=104&type=chunk) - In April 2022, the company cancelled **2,890,173 shares** of its common stock held by related party Bitfury Top HoldCo as repayment for a **$10.0 million** deposit on a mining rig order that was not fulfilled[95](index=95&type=chunk)[108](index=108&type=chunk)[149](index=149&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=26&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's Bitcoin mining buildout, increased operating expenses, liquidity, and plans to deploy 6.9 EH/s of hashrate by early 2023 [Overview and Recent Developments](index=26&type=section&id=Overview%20and%20Recent%20Developments) Cipher, a US-based Bitcoin miner, commenced operations in February 2022, targeting 6.9 EH/s owned hashrate by early 2023 with low electricity costs - The company's key mission is to become a leading Bitcoin mining company in the United States, leveraging power agreements expected to provide an average electricity cost of **approximately 2.7 c/kWh**[171](index=171&type=chunk)[173](index=173&type=chunk) - The Alborz facility was completed in August 2022, with installed rigs capable of generating **approximately 1.3 EH/s** (Cipher's share is **~0.64 EH/s**)[191](index=191&type=chunk) - By early 2023, the company plans to deploy a total hashrate of **approximately 7.9 EH/s**, with its ownership portion being **approximately 6.9 EH/s**[192](index=192&type=chunk) - The company is in discussions with supplier SuperAcme to adjust payment and delivery schedules for mining rigs originally scheduled for late 2022[193](index=193&type=chunk) [Results of Operations](index=29&type=section&id=Results%20of%20Operations) No revenue was generated, with a $46.7 million net loss driven by $34.1 million in G&A expenses, including $19.6 million in share-based compensation Comparison of Operating Results (in millions) | Item | Six Months Ended June 30, 2022 | Five Months Ended June 30, 2021 | | :--- | :--- | :--- | | Revenue | $0 | $0 | | General & Administrative Expenses | $34.1 | $0.7 | | *Share-based compensation (included in G&A)* | *$19.6* | *$0* | | Equity in loss of equity investment | $12.2 | $0 | | **Net Loss** | **$46.7** | **$0.7** | [Liquidity and Capital Resources](index=30&type=section&id=Liquidity%20and%20Capital%20Resources) The company held $37.0 million in cash, used $156.8 million for equipment deposits, and believes current resources are sufficient for the next 12 months - The company's cash and cash equivalents stood at **$37.0 million** as of June 30, 2022, with an accumulated deficit of **$118.9 million**[209](index=209&type=chunk) - Net cash used in investing activities was **$159.8 million** for the first six months of 2022, primarily for deposits on mining equipment[212](index=212&type=chunk)[215](index=215&type=chunk) Contractual Obligations for Mining Equipment (as of June 30, 2022, in thousands) | Vendor | Open Purchase Commitment | Deposits Paid | | :--- | :--- | :--- | | Bitmain Technologies Limited | $69,885 | $69,885 | | SuperAcme Technology | $222,401 | $88,868 | | Bitfury USA Inc. and others | $43,746 | $37,954 | | **Total** | **$336,032** | **$196,707** | [Non-GAAP Financial Measures](index=33&type=section&id=Non-GAAP%20Financial%20Measures) Non-GAAP net loss was $27.0 million for the six months ended June 30, 2022, excluding non-cash items like stock compensation and depreciation Reconciliation of GAAP to Non-GAAP Net Loss (Six Months Ended June 30, 2022, in thousands) | Metric | Amount | | :--- | :--- | | Net loss (GAAP) | $(46,718) | | Stock compensation expense | $19,578 | | Change in fair value of warrant liability | $111 | | Depreciation | $15 | | **Non-GAAP net loss** | **$(27,014)** | [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=37&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a smaller reporting company, Cipher Mining Inc. is exempt from providing quantitative and qualitative disclosures about market risk - The company is a smaller reporting company and is not required to provide quantitative and qualitative disclosures about market risk[255](index=255&type=chunk) [Item 4. Controls and Procedures](index=37&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2022, with no material changes to internal control over financial reporting - Management concluded that as of June 30, 2022, the company's disclosure controls and procedures were effective at a reasonable assurance level[257](index=257&type=chunk) - No changes occurred in the company's internal control over financial reporting during the quarter ended June 30, 2022, that have materially affected, or are reasonably likely to materially affect, internal controls[258](index=258&type=chunk) [PART II. OTHER INFORMATION](index=38&type=section&id=PART%20II.%20OTHER%20INFORMATION) This section covers legal proceedings, risk factors, unregistered equity sales, and a list of filed exhibits [Item 1. Legal Proceedings](index=38&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently a party to any material pending legal proceedings - As of the filing date, the company is not involved in any material legal proceedings[261](index=261&type=chunk) [Item 1A. Risk Factors](index=38&type=section&id=Item%201A.%20Risk%20Factors) No material changes have occurred to the risk factors previously disclosed in the company's 2021 Form 10-K - There have been no material changes to the risk factors disclosed in the company's Annual Report on Form 10-K for the year ended December 31, 2021[262](index=262&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=38&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered sales of equity securities occurred, and the use of IPO proceeds remains consistent with prior disclosures - No unregistered sales of equity securities occurred during the reporting period[263](index=263&type=chunk) [Item 6. Exhibits](index=39&type=section&id=Item%206.%20Exhibits) This section provides a comprehensive list of all exhibits filed with the Form 10-Q, including key agreements and certifications

*: Cipher Mining n: May 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 as the ...

Cipher Mining, Inc. (NASDAQ:CIFR) Q1 2022 Earnings Conference Call May 10, 2022 8:00 AM ET Company Participants Tyler Page – Chief Executive Officer Ed Farrel – Chief Financial Officer Lori Barker – Investor Relations Conference Call Participants Kevin Dede – H.C. Wainwright Chris Brendler – D.A Davidson Presentation Operator Hello, and welcome to the CIFR Mining First-Quarter 2022 Business Update Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation, ther ...

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 March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . | --- | --- | |--------------------------------------------------------------------------------------------------------------------------------|----------- ...

Financial Data and Key Metrics Changes - The company reported a net loss of approximately $72.1 million for the 11 months ended December 31, primarily driven by $63.8 million in stock-based compensation and $8.3 million in corporate-related expenses [25][26] - The anticipated weighted average cost for mining rigs is $42.81 per terahash, with an efficiency of 33.8 joules per terahash, and a power price of $0.0273 per kilowatt hour [22] Business Line Data and Key Metrics Changes - Cipher Mining commenced Bitcoin mining operations in February 2022, marking a transition from a pre-revenue company to an operational entity [6][8] - The company has made significant progress in deploying data centers, fulfilling commitments related to mining rigs and infrastructure [23] Market Data and Key Metrics Changes - Bitcoin prices have experienced volatility, losing about one-third of their value since reaching all-time highs in November [15] - The mining rig market is evolving, with new generations of miners being launched and competitive pricing observed in the secondary market [16] Company Strategy and Development Direction - Cipher Mining aims to be the preferred platform for the U.S. power industry to access Bitcoin mining, focusing on long-term power purchase agreements and innovative deal structures [7][9] - The company is positioning itself to take advantage of economies of scale in Bitcoin mining, negotiating better pricing for power and mining rigs [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability of the regulatory environment for Bitcoin, noting a growing acknowledgment of Bitcoin's role in the financial landscape [39][40] - The company is focused on cost discipline and flexibility in its operations to navigate the volatile market conditions [42] Other Important Information - Cipher Mining has signed a joint venture term sheet for an 80-megawatt site in Texas and a power purchase agreement for a 200-megawatt facility powered by solar energy [8][9] - The company is targeting carbon neutrality via offsets by the end of 2023, with a focus on renewable energy sources [34] Q&A Session Summary Question: Can you provide an update on the Bitfury situation and their chipset development? - Management confirmed a 7-year contract with Bitfury, with rigs expected to be delivered in the second half of 2022, but they are exercising flexibility by not moving forward with the 2022 purchase [28] Question: What is the power setup at the Alborz site? - Alborz is powered entirely by wind, with a back-to-back power purchase agreement in place, and the site is sized appropriately to manage uptime based on historical wind production [30][31] Question: What is the anticipated renewable energy mix for 2022? - The company expects to have about half the typical emissions per megawatt hour in the U.S., with a mix of wind, natural gas, and grid connections across its sites [34] Question: Has there been any change in the timing or supply for Bitmain and MicroBT systems? - There have been no changes to the deployment schedule for Bitmain and MicroBT, with 87,000 rigs contracted [37] Question: Are there inflationary pricing pressures on deployment costs? - The increase in the average anticipated cost of mining rigs is attributed to the removal of Bitfury rigs, not inflationary pressures [38]

°::: Cipher Mining March 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 as th ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 001-39625 Cipher Mining Inc. (Exact name of Registrant as specified in its Charter) Delaware 85-1614529 (State or other jurisdiction of ...

Cipher Mining, Inc. (NASDAQ:CIFR) Q3 2021 Results Conference Call November 12, 2021 8:00 AM ET Company Participants Lori Barker - Blueshirt Group IR Tyler Page - CEO Ed Farrell - CFO Conference Call Participants Aaron Rakers - Wells Fargo Kevin Dede - HCW Operator Good day. And thank you for standing by. Welcome to the Cipher Mining Third Quarter 2021 Business Update Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answ ...