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Dec 31, 2024
Terawulf Q4 2024 Earnings Report
Reported fourth quarter and full year results, announced strategic expansion into AI-driven HPC hosting, and saw annual revenue and non-GAAP adjusted EBITDA increase.
Key Takeaways
TeraWulf reported a strong year with significant growth in revenue and adjusted EBITDA. The company expanded its self-mining capacity, secured long-term data center lease agreements for HPC hosting, and strengthened its balance sheet through strategic financial management.
Expanded self-mining capacity to 9.7 EH/s.
Secured long-term data center lease agreements expected to generate $1 billion in cumulative revenue over initial 10-year contract terms.
Increased annual revenue and non-GAAP adjusted EBITDA by 102% and 89% year-over-year, respectively.
Repurchased over $150 million in shares and maintained a strong liquidity position.
Forward Guidance
TeraWulf focuses on executing the 72.5 MW of HPC hosting capacity set for delivery in 2025, leveraging its low-cost, predominantly zero-carbon energy infrastructure platform to meet the growing need for AI-driven compute infrastructure.
Positive Outlook
- Focus on executing the 72.5 MW of HPC hosting capacity set for delivery in 2025.
- Leveraging low-cost, predominantly zero-carbon energy infrastructure.
- Significant opportunity to meet the growing need for AI-driven compute infrastructure.
- Strong demand for AI-driven compute infrastructure.
- Positioned to scale HPC hosting and colocation services by 100-150 MW annually.
Challenges Ahead
- Ability to mine bitcoin profitably
- Ability to attract additional customers to lease HPC data centers
- Ability to perform under existing data center lease agreements
Historical Earnings Impact
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Avg. Return Before/After Earnings
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