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  "documentTitle": "Cipher Mining | Investor Presentation Deck | 17 slides",
  "authorId": "cipher-mining",
  "authorName": "Cipher Mining",
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  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2022-11-01 00:00:00",
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  "pageNumber": 4,
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  "notes": "The slide uses a process flow diagram to explain the economics of Bitcoin mining.",
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  "slideHref": "/slides/019de073-f718-739b-a8fb-674767a2a6e8/4",
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  "deckAnchorHref": "/decks/019de073-f718-739b-a8fb-674767a2a6e8#slide-4",
  "components": [
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      "kind": "diagram",
      "text": "Flow from Power Source to Mining Equipment to Bitcoin Network",
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      "text": "Data center revenue consists of a reward for the block mined and a transaction fee. Average block time is 10 minutes. Block reward based on ratio of data center's computing power to that of entire Bitcoin network. Current block reward amounts to 6.25 bitcoins per block. Transaction fees are additional bitcoin paid to miners for confirming transactions.",
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      "kind": "source-note",
      "text": "Source: Cipher Mining management (1) The block reward is cut in half after every 210,000 blocks are mined (~every 4 years); the latest revision was in May 2020",
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      "kind": "title",
      "text": "Bitcoin Mining Business Model",
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