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  "documentTitle": "Cipher Mining | SPAC Presentation Deck | 55 slides",
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  "authorName": "Cipher Mining",
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  "presentationDate": "2021-03-01 00:00:00",
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  "notes": "The chart uses a waterfall-style stacking to show how investments made in different years contribute to the total cash flow in a given year.",
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      "text": "Additional $50M annual capex investment is expected to generate $83.2M Free Cash Flow annually by 2025E",
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      "text": "Source: Cipher Mining management. Note: Projections based upon BTC increases... (1) Free Cash Flow = EBITDA - Capex...",
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      "text": "Illustrative Cash Flow Generated by Annual $50M Investments, by Year of Investment (1) ($ in millions)",
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      "text": "Additional MW from $50M Investment; Additional Hashrate from $50M Investment (EH/s)",
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      "kind": "title",
      "text": "Significant Upside from Additional Capex Deployment",
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