TechFlow reports, on March 1, according to the latest 2024 fourth-quarter results released by Bitcoin mining company TeraWulf, annual revenue increased 102% year-over-year from $69.2 million in 2023 to $140.1 million, driven by higher Bitcoin production and an increase in the average realized price of Bitcoin. TeraWulf stated that it eliminated its legacy term loan debt in 2024, compared to $139.4 million at the end of 2023. The company's GAAP-adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) nearly doubled, rising from $31.9 million in 2023 to $60.4 million in 2024. As of December 31, 2024, the company reported cash and cash equivalents of $274.1 million, with a total of $274.5 million in cash, cash equivalents, and Bitcoin on its balance sheet, holding nearly four times as much BTC as before, reaching 1,801 BTC.
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