TeraWulf Bitcoin production falls 21% in Q2, looks to AI expansion
Bitcoin miner TeraWulf mined 699 Bitcoin in Q2 — a 21% year-over-year decline — but still beat analyst expectations with $35.6 million in quarterly revenue.
Bitcoin miner TeraWulf beat revenue and missed earnings expectations as it posted a 21% decline in the amount of Bitcoin it mined in the second quarter of 2024.
In an Aug. 2 second-quarter earnings report, the firm said it mined 699 Bitcoin (BTC) in the second quarter, a 21% decline year over year.
The firm reported second-quarter revenue of $35.6 million, slightly beating the consensus estimate of $35.4 million. However, it posted a quarterly loss of $0.03 per share, falling short of an estimated $0.02 loss per share.
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Author: Tom Mitchelhill
