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TeraWulf (NASDAQ: WULF) reported its Q1 2024 financial results, showcasing significant growth and operational milestones. The company self-mined 1,057 bitcoins, an 8.9% increase over Q4 2023, and boosted its total installed hashrate to 8.0 EH/s. Revenue surged by 82.2% to $42.4 million, while gross profit soared 95.3% to $28.0 million. The adjusted EBITDA for the quarter reached $32.0 million, a 95.4% rise from the previous quarter. TeraWulf also paid down $63.6 million of debt so far in 2024. The firm aims to expand its hashrate to 10.2 EH/s by Q3 2024 and 13.3 EH/s by Q1 2025. Additionally, it has entered agreements to purchase new mining equipment and is expanding its infrastructure with new facilities at its Lake Mariner and Nautilus Cryptomine sites.
TeraWulf Inc. (Nasdaq: WULF) announced its April 2024 production and operations update, revealing the mining of 348 bitcoins with 8.0 EH/s of self-mining capacity. The company achieved a 98% utilization rate and is nearing completion of Building 4 at Lake Mariner, set to reach 10.0 EH/s by mid-2024.
TeraWulf Inc. (Nasdaq: WULF) schedules a conference call for the first quarter 2024 financial results on May 13, 2024, at 5:00 p.m. ET. The U.S.-based bitcoin mining company, powered by over 91% zero-carbon energy, will issue a press release on the same day.
TeraWulf Inc. (Nasdaq: WULF) will participate in various upcoming industry events with senior management for networking and business development opportunities. The events include AIM Summit London 2024, DC Blockchain Summit 2024, B. Riley Securities 24th Annual Institutional Investor Conference, Consensus 2024, Northland Growth Conference 2024, and Bitcoin 2024. TeraWulf focuses on Bitcoin mining using zero-carbon energy sources.