secwatch.observer — SEC 8-K summary
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Issuer:     TERAWULF INC. (WULF)
CIK:        0001083301
Form:       8-K
Filed at:   2024-05-13T23:59:59+00:00
Accession:  0001083301-24-000102
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1083301/000108330124000102/0001083301-24-000102-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1083301/000108330124000102/wulf-20240513.htm
  HTML page:      https://secwatch.observer/filing/0001083301-24-000102

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer