Year 1 operational expense guidance
Company: Cipher Mining
The claim, verbatim
Year 1 operational expenses (including operating costs, property taxes, and insurance) are projected at approximately $36 million, escalating at 3% annually
Source (primary)
cipher-mining 8-K exhibit (dp236870_ex9901.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-09-27)Live source ↗
Quote: “Opex (consisting of operational expenses, property taxes, and insurance) of ~$36MM in year 1, escalating at 3% per annum”
How we checked this
Checked on September 28, 2026. The cited source supports every part of this claim.
The presentation's key model assumptions state opex of about $36MM in year 1, covering operational expenses, property taxes and insurance, escalating at 3% per annum. The document labels these figures as estimates.
Confirmed in the source:
- Year 1 opex (operational expenses, property taxes and insurance) is modeled at approximately $36 million
- Opex is modeled to escalate at 3% per year
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/1819989/000095010325014194/dp236870_ex9901.htm) in full (12,063 characters, retrieved September 27, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms cipher-mining 8-K exhibit (dp236870_ex9901.htm)
Quote: “Opex (consisting of operational expenses, property taxes, and insurance) of ~$36MM in year 1, escalating at 3% per annum”