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  "documentTitle": "Cipher Mining | Investor Presentation Deck | 23 slides",
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  "authorName": "Cipher Mining",
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  "presentationDate": "2024-05-01 00:00:00",
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  "notes": "The slide uses a process-flow diagram to explain the inputs and outputs of the mining business.",
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      "text": "Power Source, Mining Equipment, Bitcoin Network flow",
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      "text": "Data center revenue includes a reward for the block mined, transaction fees, and potential power sales. 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 3.125 bitcoins per block. Transaction fees are additional bitcoin paid to miners for confirming transactions.",
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      "text": "Bitcoin Mining Dynamics",
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      "text": "(1) At certain sites, Cipher can opportunistically elect to use power at data center or sell to the market (2) The block reward is cut in half after every 210,000 blocks are mined (~every 4 years); the latest revision was in April 2024",
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