TeraWulf Q1 2024: Revenue $42.4M (+82% QoQ), Adjusted EBITDA $32M (+95%), debt down $63.6M in 2024

TERAWULF INC.

2024-Q1 EPS reported -$0.03 revenue$42,433,000

Self-mined 1,057 BTC in Q1, up 8.9% from Q4; avg operating hash rate 6.8 EH/s.
Revenue $42.4M (GAAP) vs $23.3M in Q4; gross profit margin improved to 66%.
Non-GAAP Adjusted EBITDA $32.0M, up 95.4% QoQ; power cost per BTC $15,501.
Debt reduced to $75.8M after repaying $63.6M in 2024 (including $30.2M in April).
On track for ~10.2 EH/s by Q3 2024, ~13.3 EH/s by Q1 2025; expanded Bitmain miner deal.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TERAWULF INC. reported first quarter ended March 30, 2024 results: revenue $42.4 million.

Period: first quarter ended March 30, 2024
Revenue: $42.4 million
Result: reported results

Exact text from the filing

2024 Financial Results Self-mined 1,057 bitcoin in Q1 2024, an 8.9% increase over Q4 2023, on a total installed hashrate of 8.0 EH/s. Q1 2024 revenue grows 82.2% over Q4 2023 to $42.4 million. Q1 2024 Non-GAAP Adjusted EBITDA increases 95.4% over Q4 2023 to $32.0 million. Paid down approximately $63.6 million of debt so far in 2024, demonstrating the power of

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Source: SEC EDGAR

accession 0001083301-24-000102

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