Mon, Mar 3, 11:08 AM (58 days ago)
**TeraWulf Inc. (WULF) Financial Summary for FY 2024** TeraWulf Inc. reported significant financial growth in FY 2024, with revenues of $140.1 million, up 102.6% from $69.2 million in FY 2023. This increase was primarily driven by a higher average bitcoin price of $65,824 compared to $28,788, despite a slight decline in total bitcoin mined (2,177 vs. 2,168). The company recorded a net loss of $72.4 million, slightly reduced from $73.4 million in FY 2023, reflecting increased operational efficiencies and strategic shifts towards high-performance computing (HPC) hosting. Operationally, TeraWulf's mining capacity grew to 195 MW, with an additional 50 MW expected in 2025. The company has secured long-term leases for HPC hosting, enhancing its market position in AI and cloud computing. Key risks include fluctuating bitcoin prices, operational costs, and regulatory changes impacting the cryptocurrency landscape. TeraWulf maintains a strong liquidity position with $274.1 million in cash and cash equivalents and a working capital of $229.6 million as of December 31, 2024. The company’s strategic focus on sustainable, low-cost energy solutions positions it favorably within the evolving digital infrastructure sector.