Mining company TeraWulf's net loss in the first quarter reached US$61.4 million, with revenue costs accounting for 71.4% of revenue

According to Cointelegraph, Bitcoin mining company TeraWulf released its first quarter 2025 financial report, with a net loss of US$61.4 million, far higher than US$9.6 million in the same period last year. The company's revenue fell to $34.4 million year-on-year, while revenue costs rose to $24.5 million, accounting for 71.4%, more than double the 34% in the same period last year. TeraWulf attributed the decline in revenue to Bitcoin’s halving, increasing network difficulty; in addition, severe weather in New York State also affected its mine operations.