Leading Bitcoin mining company TeraWulf Inc. announced its unaudited interim financial results for the first quarter of fiscal year 2024 along with an operational update.

In Q1 2024, TeraWulf self-mined a total of 1,057 bitcoin across its Lake Mariner and Nautilus Cryptomine facilities, including 6 bitcoin through profit sharing from a hosting agreement, valued at $56.8 million.

Its revenue almost doubled to $42.4 million ($23.3 million in the previous quarter), marking a significant 81.8% increase.

Paul Prager, CEO of TeraWulf, expressed satisfaction with the company’s performance, citing it as a new benchmark for profitability among publicly traded bitcoin miners. He…

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