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  "documentTitle": "Cipher Mining | SPAC Presentation Deck | 55 slides",
  "authorId": "cipher-mining",
  "authorName": "Cipher Mining",
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  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2021-03-01 00:00:00",
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  "notes": "The slide provides financial and operational projections for Cipher Mining.",
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      "text": "Illustrative Total MW Deployed and Hashrate (EH/s)",
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      "text": "Illustrative Average Cost per Bitcoin Mined (1)",
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      "text": "Source: Cipher Mining management. Note: Projections based upon BTC increases from $25k to $50k from 2021E to 2025E; assumes 455 EH/s network hashrate by Dec 2025E; assumes 2.38 BTC transaction fees per block by Dec 2025E; assumes 745MW deployed by Dec 2025E. (1) Variable cost / BTC = OpEx / Total Bitcoin Mined; Total Cost / BTC includes SG&A and depreciation & amortization",
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      "kind": "title",
      "text": "Illustrative Key Performance Indicators, with BTC from $25K to $50K",
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