Cipher Mining Investor Presentation Deck
Cipher: Bitcoin Mining Platform for the U.S. Power Industry
Denotes JV site
JV with WindHQ
Luminant (Vistra)
Bear
(Up to 200 MW)
Alborz
(40 MW)
*
*
*
Chief
(Up to 200 MW)
Competitive Advantages
"Turnkey JV" solution
Robust operating environment
PPA structuring capabilities
• Data capture and optimization analysis
• Potential for future services to be offered
PBJ(1)
(80 MW)
Cipher
Mining
*
Odessa
(205 MW)
Luminant 2 (1)
(200 MW)
Significant
Pipeline
Why It Makes Sense
. Cipher secures cheapest power
Higher margins for power provider while
avoiding complications of managing bitcoin.
Further incentive for the development of
renewable projects
Source: Cipher Mining management
(1) Non-binding term sheet in place. All term sheets are non-binding and remain subject to completion of due diligence and internal approval processes from all parties as well as the negotiation and execution of definitive agreements.
The final terms of the definitive agreements, if any, may be significantly different from those set forth in the respective non-binding term sheets
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