TeraWulf Q1 revenue $34.4M (-19% YoY), net loss $61.4M, adjusted EBITDA -$4.7M

TERAWULF INC.

2025-Q1 EPS reported -$0.16 revenue$34,405,000

Self-mined 372 bitcoin vs 1,051 in Q1 2024; power cost per bitcoin surged to $66,084 from $15,501.
Held $219.6M cash & bitcoin; $500M convertible notes due 2030; repurchased $33M stock in Q1.
Board approved new $200M ATM equity program and refreshed $200M share repurchase authorization.
HPC buildout for Core42 on track; targeting 200-250 MW contracted HPC by end of 2026.
Revenue $34.4M, cost of revenue 71.4% of sales; operating loss $59.6M vs $2.3M loss year ago.

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