Bitcoin mining company TeraWulf announces Q4 financial report, with full year revenue growth of 102%

According to The Block, Bitcoin mining company TeraWulf has announced its Q4 2024 results. In 2024, driven by the increase in Bitcoin production and the average price increase of Bitcoin, the annual revenue increased by 102% from $69.2 million in 2023 to $140.1 million. TeraWulf stated that its outstanding term loan debt has been eliminated by 2024, compared to $139.4 million at the end of 2023. As of December 31st, TeraWulf's balance sheet had $274.5 million in cash, cash equivalents, and Bitcoin. By the end of the year, the number of digital assets held had almost doubled, reaching 1801 BTC.