TechFlow news, May 10 — According to TeraWulf's financial report, the company recorded a net loss of approximately $61.4 million in the first quarter of 2025, significantly wider than the $9.6 million loss during the same period last year. The report showed that the company’s first-quarter revenue was $34.4 million, down 19% year-on-year, while operating costs rose to $24.5 million, up 70% year-on-year.
TeraWulf stated that the revenue decline was primarily due to the Bitcoin halving, which reduced block rewards from 6.25 BTC per block to 3.125 BTC per block. Additionally, increased network difficulty and severe weather conditions in New York State impacted its mining operations. Notably, affected by trade tariffs and other factors, the company sold 40% of its mined Bitcoin in March 2025—the highest level since October 2024.
