TeraWulf Reports Significant Losses in Q1 2025 Financial Results

According to Odaily, Bitcoin mining company TeraWulf has released its financial results for the first quarter of 2025, revealing a net loss of $61.4 million. This figure is considerably higher than the $9.6 million loss reported in the same period last year. The company's revenue decreased to $34.4 million, while the cost of revenue rose to $24.5 million, accounting for 71.4% of total revenue, more than double the 34% from the previous year. TeraWulf attributes the decline in revenue to the Bitcoin halving and increased network difficulty. Additionally, adverse weather conditions in New York have impacted the operation of its mining facilities.