Slide 1: November 2021
November 2021
Slide 2: Cipher is a U.S.-Based Industrial Scale Bitcoin Mining Company
Cipher is a U.S.-Based Industrial Scale Bitcoin Mining Company Summary • Recently completed listing on Nasdaq with ticker CIFR – raised net proceeds of $391 million • Currently executing strategy to develop and deploy five data centers where bitcoin production is expected to ramp up significantly th
Slide 3: Cipher Mining's Busy First Year in Context
Cipher Mining’s Busy First Year in Context Bitcoin 2021 YTD Price Timeline MicroStrategy buys 1.0bn in bitcoin Bitcoin Price ($USD) – 2021 YTD(1) Bitcoin reaches new all-time-high $50,625 $66,064 $70,000 February 24 October 20 $60,000 $50,000 $40,000 $30,000 Coinbase IPO $63,554 $20,000 Tesla buys $
Slide 4: Cipher Mining's Long-Term Advantages
Cipher Mining’s Long-Term Advantages Requirements for a successful large scale BTC miner Nasdaq Global listed company Capital Potential for a wide variety of future financing structures Up to 910+ MW with current providers and 5+ year contracts Power Robust pipeline of potential future deals Scalabi
Slide 5: Cipher Mining's Environmental Framework
Cipher Mining’s Environmental Framework Carbon Emissions per MWh Key Points (kg-CO2 / MWh) • No purchase agreements with coal-fired 1,200 power generation facilities 1,000 800 • Preference for renewable or nuclear sources of power 600 400 • Measure and report CO2 emissions 200 - • Target carbon neut
Slide 6: Implementation Plan & Strategy
Implementation Plan & Strategy
Slide 7: Implementation – Site Readiness
Implementation – Site Readiness 1 Power readiness 3 Phases 2 Infrastructure readiness 3 Mining rig readiness Power & Infrastructure Readiness by Quarter Total MWs Capacity Currently Under Development 400 350 300 250 200 150 100 50 0 Q1 2022 Q2 2022 Q3 2022 Alborz Bear (1) Bear (2) Chief (1) Chief (2
Slide 8: Implementation – Power and Infrastructure Readiness
Implementation – Power and Infrastructure Readiness Source: Cipher Mining management 8
Slide 9: Implementation – Power and Infrastructure Readiness
Implementation – Power and Infrastructure Readiness Source: Cipher Mining management 9
Slide 10: Implementation – Power and Infrastructure Readiness
Implementation – Power and Infrastructure Readiness Source: Cipher Mining management 10
Slide 11: Implementation – Power and Infrastructure Readiness
Implementation – Power and Infrastructure Readiness Source: Cipher Mining management 11
Slide 12: Implementation – Power and Infrastructure Readiness
Implementation – Power and Infrastructure Readiness Source: Cipher Mining management 12
Slide 13: Implementation – Power and Infrastructure Readiness
Implementation – Power and Infrastructure Readiness Note: This site is operated by Bitfury and is not owned by Cipher Mining. It is intended solely to give a visual representation of a completed site. 13
Slide 14: Implementation – Mining Rig Delivery
Implementation – Mining Rig Delivery • Philosophy of mining rig purchases → Maintain price discipline based on $ / TH framework • $38.58 anticipated weighted average cost for mining rigs ($ / TH) • Rely on long-term competitive advantages Machine Delivery Schedule by Month Total Hash Rate (EH/s) 20.
Slide 15: Key Statistics
Key Statistics $38.58 Anticipated Weighted Average Cost for Mining Rigs ($ / TH) 33.2 Weighted Average Mining Rig Efficiency (J / TH) 2.72c Weighted Average Power Price(1) (c / kWh) ~$450k Anticipated Infrastructure Capex Costs per MW(2) ($) Source: Cipher Mining management (1) Represents the expect
Slide 16: Consolidated Balance Sheets
Consolidated Balance Sheets Source: Cipher Mining management 16
Slide 17: Safe Harbor
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
Slide 18: Appendix
°383 Cipher Mining
Slide 19: Consolidated Statement of Operations
Consolidated Statement of Operations Source: Cipher Mining management 19
Slide 20: Consolidated Statements of Changes in Stockholders' Equity (Deficit)
Consolidated Statements of Changes in Stockholders’ Equity (Deficit) Three Months Ended September 30, 2021 Eight Months Ended September 30, 2021 Source: Cipher Mining management 20
Slide 21: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows Source: Cipher Mining management 21
Slide 22: November 2021
November 2021