CIFR — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-04

• On July 23, 2026, we entered into an option agreement to acquire a 900 MW site in Texas.

• On July 24, 2026, we amended the HPC lease at the Black Pearl Facility, which accelerated delivery of the first capacity to July 31, 2026.

• Equity in losses of equity investees includes our share of the losses recorded by Alborz LLC, Bear LLC and Chief Mountain LLC prior to February 19, 2026, when we sold our interests in these joint ventures.

• All of our bitcoin is recorded as a current asset on our condensed consolidated balance sheet as we expect to regularly exchange our bitcoin held for fiat currency to fund our operating expenses. We adopted ASU 2023-08 Accounting

• for and Disclosure of Crypto Assets (“ASU 2023-08”) effective January 1, 2023, which requires cryptocurrencies to be measured at fair value each reporting period with changes in fair value being reported in net income.

Text removed vs the prior filing · source: 10-Q · 2026-05-05

• On April 17, 2026, we entered into an eleven-year lease in New York, New York, to expand our office space to accommodate increased headcount.

• On March 25, 2026, we executed our third data center campus lease. This agreement is for an initial term of 15 years with an investment-grade Hyperscale tenant. Under the terms of the agreement, we will develop and deliver a new HPC data center at one of our existing sites.

• On March 25, 2026, we entered into a revolving credit facility (the “Facility”), which provides for up to $200 million of committed capacity with an additional accordion option of up to $50 million. Proceeds from the Facility will be used to enhance liquidity, support working capital, and fund growt…

• Equity in losses of equity investees includes our share of the losses recorded by Alborz LLC, Bear LLC and Chief Mountain LLC. Additionally, it includes the losses that we recognized upon our contributions of miners to these equity investees, due to the miners having a lower fair value at the time o…

• All of our bitcoin is recorded as a current asset on our condensed consolidated balance sheet as we expect to begin regularly exchanging our bitcoin held for fiat currency to fund our operating expenses. We adopted ASU 2023-08 Accounting for and Disclosure of Crypto Assets (“ASU 2023-08”) effective …

Text added vs the prior filing · source: 10-Q · 2026-08-04

• Our ability to successfully develop and operate projects is impacted by the availability of, and access to, interconnection facilities and transmission and generation systems, and is subject to third-party risks.

• In recent years, the time and costs required to secure and expand interconnection facilities and transmission systems have increased, complicating project planning and creating additional contractual and financial risk for projects under construction. We may face difficulties in securing access to i…

• We are dependent on third parties for the construction of substations at our data centers and the delivery systems facilities, and timely performance by such third parties is critical to achieving target milestone dates and commencement of rent payments under our leases.

• Any failure by our contractors (or replacement contractors) to complete the necessary interconnection facilities and transmission and generation systems to operate our data centers may result in increased construction costs, delays in construction timeline, delay of rent commencement and potential b…

• We depend on third parties for our engineering, procurement and construction (“EPC”) work, including transmission and distribution utilities, grid operators, electric utility providers and manufacturers of certain critical and specialized equipment for the construction and operation of our data cent…

Text added vs the prior filing · source: 10-Q · 2026-08-04

• Amended and Restated Executive Officer Employment Agreements

• On August 4, 2026, we entered into amended and restated employment agreements (the “Employment Agreements”) with each of our executive officers, including Tyler Page, Chief Executive Officer; William Iwaschuk, Co-President, Chief Legal Officer and Corporate Secretary; Patrick Kelly, Co-President and…

• The Employment Agreements provide for an initial three-year term with automatic one-year renewal periods unless either party gives written notice of non-renewal at least ninety (90) days prior to the end of the then applicable term; provided, however, that we may not deliver a notice of non-renewal …

• If an Executive is terminated by us without Cause, resigns for Good Reason (in each case, as defined in the Employment Agreement), or if we deliver a notice of non-renewal to such Executive, in each case, outside of the CIC Period, then subject to the execution and non-revocation of a release of cla…

• a relocation of the Executive’s principal place of employment by more than fifty (50) miles from its then-current location or (iv) the Company’s material breach of the Employment Agreement.

Text removed vs the prior filing · source: 10-Q · 2026-05-05

• Our officers and directors from time to time may adopt trading plans to transact in our common stock for a variety of reasons, including tax considerations, investment diversification, or other personal reasons. During the three months ended March 31, 2026, certain of our officers and directors adop…