XML 18 R11.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Bitcoin | 3 Months Ended
--- | ---
Mar. 31, 2024
CryptocurrenciesAbstract |
Bitcoin | NOTE 3. BITCOIN The following table presents information about the Company’s bitcoin (in thousands):
|  | March 31, |
|  | 2024 |  |  | 2023 |
Opening balance |  | $ | 32,978 |  |  | $ | 6,283 |
Cumulative effect upon adoption of ASU 2023-08 |  |  | - |  |  |  | 209 |
Bitcoin received from equity investees |  |  | 1,694 |  |  |  | 317 |
Revenue recognized from bitcoin mined, net of receivable |  |  | 48,079 |  |  |  | 21,717 |
Proceeds from sale of bitcoin |  |  | - |  |  |  | (20,958 | )
Change in fair value of bitcoin |  |  | 40,556 |  |  |  | 4,265 |
Ending balance |  | $ | 123,307 |  |  | $ | 11,833 |
The Company held approximately 1,730, and 780 bitcoin at March 31, 2024, and December 31, 2023, respectively. The associated fair value and cost basis of bitcoin held was $123.3 million, and $80.7 million, respectively, at March 31, 2024, and $33.0 million, and $30.9 million, respectively at December 31, 2023. Fair value of bitcoin is estimated using the closing price of bitcoin, which is a Level 1 input (i.e., an observable input such as a quoted price in an active market for an identical asset). The Company may pledge bitcoin as collateral related to bitcoin trading strategies. As of March 31, 2024, 67 bitcoin with a fair value of $4.8 million were pledged. Restrictions on that collateral lapsed on April 1, 2024. As of December 31, 2023, 10 bitcoin with a fair value of $0.4 million were pledged. Restrictions on that collateral lapsed on January 26, 2024.

X
- Definition Bitcoin. + References No definition available. + Details
Name: | cifr_BitcoinTextBlock
Namespace Prefix: | cifr_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Cryptocurrencies. + References No definition available. + Details
Name: | cifr_Cryptocurrenciesabstract
Namespace Prefix: | cifr_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration