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Dec 31, 2023
Terawulf Q4 2023 Earnings Report
TeraWulf experienced revenue growth and improved profitability, driven by increased bitcoin production and cost-effective power.
Key Takeaways
TeraWulf reported a strong increase in annual revenue, gross profit, and self-mining operating capacity. The company is focused on expanding its infrastructure and exploring opportunities in AI and HPC applications.
Revenue increased 360% to $69.2 million in 2023.
Gross profit increased 960% to $41.9 million in 2023.
Self-mining operating capacity increased by 464% to 7.9 EH/s as of December 31, 2023.
Company held $56.2 million in cash and cash equivalents and bitcoin on its balance sheet as of December 31, 2023.
Terawulf
Terawulf
Forward Guidance
TeraWulf aims to achieve an operational infrastructure capacity of 300 MW by the end of 2024 and 550 MW by the end of 2025, while also exploring AI and HPC applications.
Positive Outlook
- Achieve operational infrastructure capacity of 300 MW by the end of 2024.
- Deploy 550 MW, equivalent to approximately 28.3 EH/s, utilizing the current generation of miners by 2025.
- Expanding hash rate at top tier sites.
- Actively pursuing opportunities to optimize the utilization of proprietary infrastructure and unlock additional value.
- Exploring potential applications of High-Performance Computing (HPC) and Artificial Intelligence (AI).