secwatch.observer — SEC 8-K summary
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Issuer:     TERAWULF INC. (WULF)
CIK:        0001083301
Form:       8-K
Filed at:   2023-11-13T23:59:59+00:00
Accession:  0001083301-23-000052
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TeraWulf reports Q3 revenue $19.0M (+22.6% QoQ); self-mined 994 BTC; Adjusted EBITDA $9.0M
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- Revenue $19.0M, up 22.6% vs Q2; gross profit $10.7M, gross margin 56.4% (down from 66.9% on higher power costs and network difficulty).
- Self-mined 994 Bitcoin (+9.5% QoQ); average power cost per BTC $9,322 (+29.5% QoQ).
- Non-GAAP Adjusted EBITDA $9.0M (+18.5% QoQ); expects to repay ~$7M debt from Q3 cash, $5.5M repaid in October.
- Ordered 18,500 BITMAIN S19j XP miners (2.8 EH/s) at $19/TH, delivery Dec 2023; host-to-own structure defers capital outlays.
- Total installed hashrate 5.5 EH/s (+267% YoY); expanding Lake Mariner facility from 110 MW to 153 MW by year-end.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1083301/000108330123000052/0001083301-23-000052-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1083301/000108330123000052/wulf-20231113.htm
  HTML page:      https://secwatch.observer/filing/0001083301-23-000052

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