Slide 1: May 2022
May 2022
Slide 2: 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 3: Cipher Mining: A Large-Scale U.S. Bitcoin Miner
Cipher Mining: A Large-Scale U.S. Bitcoin Miner Scale Low Cost 7.5 EH/s expected $45.01 average price per capacity deployment by TH/s, with 32.1 J/TH early 2023 average efficiency(1) Equipment Multiple relationships 5-year+ PPAs with with top-tier power average power price of companies ~2.73 c/kWh(2
Slide 4: Milestones and Updates
Milestones and Updates Mining Rig ◼ First 0.3 EH/s (2,949 mining rigs) installed at Alborz Installation ◼ January – March Bitmain monthly allocations deployed ◼ Improved machine allocation from MicroBT for 2022 deliveries Increased ◼ 400 PH/s added to 2022 delivery forecast, bringing new Cipher hash
Slide 5: Implementation Plan & Strategy
Implementation Plan & Strategy
Slide 6: Implementation – 2022 Site Readiness
Implementation – 2022 Site Readiness Total MW Capacity Under Development Previous Forecast Updated Forecast 450 450 400 400 350 350 300 300 250 250 200 200 150 150 100 100 50 50 - - Q2 2022 Q3 2022 Q4 2022 Q2 2022 Q3 2022 Q4 2022 Alborz Bear (1) Bear (2) Chief (1) Chief (2) Odessa PBJ AIC Alborz Bea
Slide 7: Site Development on Track for Machine Delivery
Site Development on Track for Machine Delivery 2022 Updated Site Schedule Fully Allocated Unallocated Mining Rigs Site name Q1 ’22E Q2 ’22E Q3 ’22E Q4 ’22E Alborz – 40 MW Bear (1) – 10 MW Chief (1) – 10 MW Odessa – 205 MW PBJ – 80 MW Machine Shipping Schedule by Quarter Total Hashrate (EH/s) Deploye
Slide 8: Implementation – Full Infrastructure Deployed at Alborz
Implementation – Full Infrastructure Deployed at Alborz • Anticipated completion date: May 31, 2022 Source: Cipher Mining management 8
Slide 9: Implementation – Infrastructure Progress at Bear + Chief
Implementation – Infrastructure Progress at Bear + Chief Bear: Chief: Source: Cipher Mining management 9
Slide 10: Implementation – Construction at Odessa
Implementation – Construction at Odessa Source: Cipher Mining management 10
Slide 11: Implementation – Construction at Odessa
Implementation – Construction at Odessa Source: Cipher Mining management 11
Slide 12: Key Buildout Statistics
Key Buildout Statistics $45.01 Anticipated Weighted Average Cost for Mining Rigs ($ / TH/s)(1) 32.1 Anticipated Weighted Average Mining Rig Efficiency (J / TH)(1) ~2.73c Anticipated Weighted Average Power Price (c / kWh)(2) ~$450k Anticipated Infrastructure Capex Costs per MW ($)(3) Source: Cipher M
Slide 13: Consolidated Balance Sheets
Consolidated Balance Sheets Source: Cipher Mining management 13
Slide 14: Consolidated Statement of Operations
Consolidated Statement of Operations Source: Cipher Mining management 14
Slide 15: Non-GAAP Measures
Non-GAAP Measures The following is a reconciliation of our non-GAAP loss The following are reconciliations of our non-GAAP net from operations, which excludes the impact of (i) loss and non-GAAP basic and diluted net loss per share, depreciation of fixed assets and (ii) stock compensation in each ca
Slide 16: Appendix
Cipher Mining _ Yi SS) NN
Slide 17: Statements of Changes in Stockholders’ Equity (Deficit)
Statements of Changes in Stockholders’ Equity (Deficit) Source: Cipher Mining management 17
Slide 18: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows Source: Cipher Mining management 18
Slide 19: May 2022
May 2022