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TeraWulf Earnings Surge: Strong Q3 Revenue Driven by Bitcoin Price Rally
TeraWulf Earnings Surge – U.S.-based Bitcoin mining company TeraWulf has posted a strong third-quarter performance, nearly doubling its revenue year-over-year as rising Bitcoin prices, expanding mining capacity, and new income from AI partnerships fueled growth.
Revenue Surges 87% Year-Over-Year
According to TeraWulf’s Q3 earnings report released on Monday, the company generated $50.6 million in revenue — an 87% increase from the same quarter last year. Of that total, digital asset revenue accounted for $43.4 million, reflecting the company’s continued dependence on Bitcoin despite diversification efforts.
While TeraWulf mined fewer Bitcoins — 377 BTC compared to 555 BTC a year earlier — the sharp rise in Bitcoin’s average price, from $61,023 in Q3 2024 to $114,390 this year, more than offset the decline in production.
“These increases were primarily due to the higher average Bitcoin prices during the periods,” the miner said, noting that expanded mining capacity and the start of high-performance computing (HPC) lease revenue also contributed to the strong results.
TeraWulf Expands Beyond Bitcoin Mining
Following the April 2024 Bitcoin halving, many miners — including TeraWulf — have been shifting part of their operations toward AI infrastructure and computing services to diversify revenue streams.
CEO Paul Prager said the third quarter through the fourth has been “remarkably busy” as the firm transitions from a pure Bitcoin mining company to a broader digital infrastructure operator.
He added that TeraWulf is now focused on “executing the next phase of growth for 2027 and beyond.”
The company recently expanded partnerships with Fluidstack and Google at its Lake Mariner facility in New York and extended operations into the Southwest Power Pool through the Abernathy joint venture.
To support its rapid expansion, TeraWulf announced a $3.2 billion senior secured notes offering in October and signed three 10-year lease agreements worth $6.7 billion with AI infrastructure provider Fluidstack.
Stock Gains Amid Strong Momentum
Following the earnings release, TeraWulf’s stock (WULF) jumped as high as $14.85 during Monday’s trading session, up 6% from the previous close of $13.94, before settling at $14.30, a 0.49% gain after the bell.
As TeraWulf continues to balance Bitcoin mining profitability with its AI-powered expansion strategy, the company appears poised to remain a key player in the evolving digital infrastructure landscape.
