TechFlow news, March 2 — According to Techinasia, bitcoin mining company TeraWulf reported annual revenue of $140.1 million in 2024, a 102% increase from $69.2 million in 2023.
The growth was primarily driven by higher bitcoin production and rising prices. The company's adjusted EBITDA, under non-GAAP measures, nearly doubled from $31.9 million to $60.4 million. As of year-end, TeraWulf held $274.5 million in cash and digital assets, including 1,801 bitcoins.
Following the earnings release, TeraWulf's stock price rose 14%, bringing its market capitalization to $1.57 billion.
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