{
  "docId": "019de070-cdb6-765d-ba2a-bbce4f399b27",
  "docSlug": "60a982ce43bb67c6592572647318f263",
  "documentTitle": "Cipher Mining | SPAC Presentation Deck | 55 slides",
  "authorId": "cipher-mining",
  "authorName": "Cipher Mining",
  "documentKindSlug": "pitchdeck",
  "documentKindLabel": "Pitch deck",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2021-03-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.4457831,
  "pageNumber": 50,
  "pageCount": 55,
  "prevPage": 49,
  "nextPage": 51,
  "slideType": "business_model",
  "function": "present_framework",
  "density": "overcrowded",
  "nDataPoints": 2,
  "notes": "The formula presented is a conceptual representation of mining revenue drivers.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de070-cdb6-765d-ba2a-bbce4f399b27/50",
  "deckHref": "/decks/019de070-cdb6-765d-ba2a-bbce4f399b27",
  "deckJsonHref": "/decks/019de070-cdb6-765d-ba2a-bbce4f399b27.json",
  "deckAnchorHref": "/decks/019de070-cdb6-765d-ba2a-bbce4f399b27#slide-50",
  "components": [
    {
      "bbox": {
        "h": 0.13,
        "w": 0.96,
        "x": 0.02,
        "y": 0.14
      },
      "kind": "diagram",
      "text": "Bitcoin Mining Revenue = (Mining Difficulty) x (Price of BTC) x (Block Reward) x (Blocks/Year) + (Transaction Fees)",
      "attrs": null,
      "subkind": "process",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "00b630db-c1fd-4b0c-ad38-ef1e5d650267",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.96,
        "x": 0.02,
        "y": 0.3
      },
      "kind": "list",
      "text": "Driven by miner's hash rate; Determined by scarcity; 6.25 Bitcoin reward; 52,560 blocks per year; Miners awarded transaction fee",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ac81a8e8-b06c-4229-9173-9a4d3efa5449",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.3,
        "w": 0.45,
        "x": 0.52,
        "y": 0.54
      },
      "kind": "list",
      "text": "Project-Specific Factors: Scale and Bolt-on Ability, Electricity Source and Data Center Efficiency, Performance Monitoring Software",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "be1eb156-a383-4dd5-ad50-cab003cb69ac",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.3,
        "w": 0.45,
        "x": 0.02,
        "y": 0.54
      },
      "kind": "list",
      "text": "Industry and Network Factors: Mining Difficulty, Bitcoin Price, Mining Hardware Expense, Political and Regulatory Acceptance",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fed5ae2a-c9ba-4acf-9886-7551b4bc5283",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.2,
        "x": 0.02,
        "y": 0.94
      },
      "kind": "source-note",
      "text": "Source: Cipher Mining management (1) As of May 2020",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2985abb7-fa84-45e8-be77-504ca07f5079",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.35,
        "x": 0.02,
        "y": 0.02
      },
      "kind": "title",
      "text": "Bitcoin Mining Economics",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a89281c8-847c-4dfb-afa5-d25030e56668",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.15,
        "x": 0.02,
        "y": 0.49
      },
      "kind": "title",
      "text": "Profitability Drivers",
      "attrs": null,
      "subkind": "subtitle",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3dcc7917-1d2e-4f41-8bbe-cf852ed4eb51",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.2,
        "x": 0.02,
        "y": 0.09
      },
      "kind": "title",
      "text": "Mining Revenue Generation",
      "attrs": null,
      "subkind": "subtitle",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c38e8c6b-4aac-4225-a7a5-52eee1bc4be3",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "List presentation",
      "slug": "list-presentation",
      "agent": null,
      "layer": "slide",
      "matchId": "1bf1ce00-2c1d-41b3-b42a-66722048720c",
      "evidence": "The slide contains a list/bullet of project-specific and industry and network factors.",
      "confidence": 0.9
    }
  ],
  "frameworks": [
    {
      "name": "causal-chain",
      "slug": null,
      "matchId": "f4c1c306-a988-459f-9610-304e7041493d",
      "evidence": "The slide breaks down revenue into a mathematical product of variables.",
      "confidence": 0.8
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}