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TeraWulf's first quarter financial report shows that the net loss has expanded to 61.4 million dollars.
According to the Gate.io News bot and a report by Cointelegraph, Bitcoin mining company TeraWulf has released its financial report for the first quarter of 2025. The data shows that the company’s net loss reached $61.4 million, a significant increase from $9.6 million in the same period last year.
The financial report shows that TeraWulf’s revenue in the first quarter fell to $34.4 million, with the cost of revenue rising to $24.5 million, accounting for 71.4% of total revenue. TeraWulf pointed out that the decline in revenue was mainly due to the Bitcoin halving, which reduced the block reward from 6.25 BTC to 3.125 BTC. At the same time, the increase in network difficulty and adverse weather conditions in New York put additional pressure on mining operations.