TeraWulf Suffers $61.4 Million Loss as Bitcoin Halving Impacts Profitability

Mining giant TeraWulf has faced a significant financial setback, reporting a staggering $61.4 million loss in the first quarter of 2025. This decline is largely attributed to the recent Bitcoin halving and escalating operational costs. Severe weather events, particularly in New York, have further exacerbated these challenges. TeraWulf CEO Paul Prager acknowledged the difficulties posed by these factors without additional public statements from leadership.