Cipher Mining Inc
For the period ended Sep 30, 2024. Filed Oct 31, 2024.
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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.
Sep 30, 2024 · Filed Oct 31, 2024
CIFR$6.53-4.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations
(in thousands, except for share and per share amounts)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenue - bitcoin mining | $24,102 | $30,304 | $109,047 | $83,423 |
| Costs and operating expenses (income) | ||||
| Cost of revenue | 15,063 | 13,008 | 44,164 | 37,017 |
| Compensation and benefits | 14,738 | 17,071 | 44,058 | 41,676 |
| General and administrative | 8,919 | 6,827 | 23,362 | 20,977 |
| Depreciation and amortization | 28,636 | 16,217 | 66,131 | 42,284 |
| Change in fair value of derivative asset | 48,520 | (4,744) | 19,181 | (13,294) |
| Power sales | (1,444) | (2,720) | (3,726) | (8,469) |
| Equity in (income) losses of equity investees | (847) | 1,998 | (1,008) | 4,179 |
| Losses (gains) on fair value of bitcoin | 1,911 | 1,848 | (22,336) | (3,276) |
| Other gains | - | (95) | - | (2,355) |
| Total costs and operating expenses | 115,496 | 49,410 | 169,826 | 118,739 |
| Operating loss | (91,394) | (19,106) | (60,779) | (35,316) |
| Other income (expense) | ||||
| Interest income | 1,188 | 11 | 3,027 | 112 |
| Interest expense | (346) | (627) | (1,118) | (1,513) |
| Change in fair value of warrant liability | - | 10 | 250 | (49) |
| Other expense | (4) | (6) | (1,235) | (18) |
| Total other income (expense) | 838 | (612) | 924 | (1,468) |
| Loss before taxes | (90,556) | (19,718) | (59,855) | (36,784) |
| Current income tax expense | (211) | (95) | (932) | (143) |
| Deferred income tax benefit (expense) | 4,013 | 1,192 | (1,358) | 555 |
| Total income tax benefit (expense) | 3,802 | 1,097 | (2,290) | 412 |
| Net loss | $(86,754) | $(18,621) | $(62,145) | $(36,372) |
| Loss per share - basic and diluted | $(0.26) | $(0.07) | $(0.20) | $(0.15) |
| Weighted average shares outstanding - basic | 332,680,037 | 251,789,350 | 314,820,110 | 249,858,033 |
| Weighted average shares outstanding - diluted | 332,680,037 | 251,789,350 | 314,820,110 | 249,858,033 |
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