The cyathium of Euphorbia spp. is a specialised inflorescence with the outward appearance of a single flower. It actually contains multiple individual unisexual flowers, a ring of male flowers on the periphery and one female flower in the centre. In dioecious euphorbias only one sex of flower in the cyathia become fertile. In the case of your plant (a male), the male flowers around the periphery are mature and the female flower in the centre is reduced and unreceptive. In a female plant the female flower is visible (and the male flowers are reduced) and the style protrudes from the centre of the cyathium.