XML 49 R38.htm IDEA: XBRL DOCUMENT
v3.24.3

LEASES (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2024
Leases [Abstract] |
Schedule of Components of Lease Expenses | Components of the Company’s lease expenses are as follows (in thousands):
| Three months ended September 30, |  | Nine months ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Finance leases: |  |  |  |  |  |  |
Amortization of ROU assets (1) | $ | 761 |  |  | $ | 1,481 |  |  | $ | 2,283 |  |  | $ | 3,297 |
Interest on lease liability | 346 |  |  | 600 |  |  | 1,108 |  |  | 1,478 |
Total finance lease expense | 1,107 |  |  | 2,081 |  |  | 3,391 |  |  | 4,775 |
Operating leases: |  |  |  |  |  |  |
Operating lease expense | 542 |  |  | 470 |  |  | 1,528 |  |  | 1,391 |
Total operating lease expense | 542 |  |  | 470 |  |  | 1,528 |  |  | 1,391 |
Total lease expense | $ | 1,649 |  |  | $ | 2,551 |  |  | $ | 4,919 |  |  | $ | 6,166 |
(1)Amortization of finance lease ROU asset is included within depreciation expense.
Schedule of Other Information Related to Leases | Other information related to the Company’s leases is shown below (dollar amounts in thousands):
| Three months ended September 30, |  | Nine months ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Operating cash flows - operating lease | $ | 480 |  |  | $ | 396 |  |  | $ | 1,320 |  |  | $ | 1,187 |
Right-of-use assets obtained in exchange for operating lease liabilities | $ | 961 |  |  | $ | — |  |  | $ | 4,375 |  |  | $ | — |
| September 30, 2024 |  | December 31, 2023
Weighted-average remaining lease term – finance lease (in years) | 2.9 |  | 3.7
Weighted-average remaining lease term – operating lease (in years) | 8.5 |  | 5.8
Weighted-average discount rate – finance lease | 11.0 | % |  | 11.0 | %
Weighted-average discount rate – operating lease | 7.9 | % |  | 10.0 | %
Finance lease ROU assets(1) | $ | 8,878 |  |  | $ | 11,160 |
(1)As of September 30, 2024, the Company recorded accumulated amortization of $2.3 million for the finance lease ROU asset. Finance lease ROU assets are recorded within property and equipment, net on the Company’s consolidated balance sheets.
Schedule of Finance Leases Maturity | As of September 30, 2024, future minimum lease payments during the next five years are as follows (in thousands):
| Finance Lease |  | Operating Lease |  | Total
Year Ended December 31, 2024 | $ | 1,208 |  |  | $ | 723 |  |  | $ | 1,931 |
Year Ended December 31, 2025 | 4,834 |  |  | 3,811 |  |  | 8,645 |
Year Ended December 31, 2026 | 4,834 |  |  | 2,106 |  |  | 6,940 |
Year Ended December 31, 2027 | 3,223 |  |  | 2,112 |  |  | 5,335 |
Year Ended December 31, 2028 | - |  |  | 2,087 |  |  | 2,087 |
Thereafter | - |  |  | 3,427 |  |  | 3,427 |
Total lease payments | 14,099 |  |  | 14,266 |  |  | 28,365 |
Less present value discount | (2,085) |  |  | (3,124) |  |  | (5,209) |
Total | $ | 12,014 |  |  | $ | 11,142 |  |  | $ | 23,156 |
Schedule of Operating Lease Maturity | As of September 30, 2024, future minimum lease payments during the next five years are as follows (in thousands):
| Finance Lease |  | Operating Lease |  | Total
Year Ended December 31, 2024 | $ | 1,208 |  |  | $ | 723 |  |  | $ | 1,931 |
Year Ended December 31, 2025 | 4,834 |  |  | 3,811 |  |  | 8,645 |
Year Ended December 31, 2026 | 4,834 |  |  | 2,106 |  |  | 6,940 |
Year Ended December 31, 2027 | 3,223 |  |  | 2,112 |  |  | 5,335 |
Year Ended December 31, 2028 | - |  |  | 2,087 |  |  | 2,087 |
Thereafter | - |  |  | 3,427 |  |  | 3,427 |
Total lease payments | 14,099 |  |  | 14,266 |  |  | 28,365 |
Less present value discount | (2,085) |  |  | (3,124) |  |  | (5,209) |
Total | $ | 12,014 |  |  | $ | 11,142 |  |  | $ | 23,156 |

X
- Definition Schedule of other information related to leases. + References No definition available. + Details
Name: | cifr_ScheduleOfOtherInformationRelatedToLeasesTableTextBlock
Namespace Prefix: | cifr_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
Name: | us-gaap_FinanceLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
Name: | us-gaap_LeaseCostTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
Name: | us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration