Bitcoin Mining Company TeraWulf Reports $61.4 Million Net Loss in Q1
Odaily Planet Daily News: Bitcoin mining company TeraWulf announced its financial report for the first quarter of 2025, with a net loss of $61.4 million, significantly higher than the $9.6 million loss in the same period last year. The company's revenue fell year-on-year to $34.4 million, while the cost of revenue rose to $24.5 million, accounting for 71.4%, more than doubling from 34% in the same period last year. TeraWulf attributed the revenue decline to the Bitcoin halving and increased network difficulty. Additionally, severe weather in New York State also impacted its mining operations.
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