TeraWulf Q3 Revenue Soars 87%, Driven by Bitcoin Price Surge

TeraWulf reported a significant revenue increase of 87% year-over-year in Q3, reaching $50.6 million despite slightly lower Bitcoin production. The company’s impressive performance is largely attributed to the sharp rise in Bitcoin prices, which nearly doubled from the previous year’s third quarter to an average of $114,390 per coin. This led to a strong revenue boost from digital asset sales, accounting for $43.4 million of the total. 377 Bitcoins were mined during the quarter, down from 555 in Q3 last year; however, this decrease doesn’t impact the overall financial results due to the significant increase in Bitcoin prices.