Bitcoin (BTC) mining firm TeraWulf’s annual report revealed that through the fourth quarter of 2022, Within the quarter, the corporate’s income grew 146% in comparison with the third.
In accordance with the report, TeraWulf elevated its 3.9 million USD income recorded in 2022 within the third quarter, as much as 9.6 million USD within the fourth quarter of the yr.
The corporate mentioned it invested in increasing its mining operations by including a further 110 megawatts (MW) of mining infrastructure. TeraWulf additionally famous that it plans so as to add one other 50MW over the subsequent three months to achieve 2023 by 2023. the overall capability could be elevated to 150 MW by the top of the second quarter.
The yr is 2022
TeraWulf began its operations in 2021. February. In accordance with the figures, the corporate has earned 15 million since its inception. USD revenue and mined 542 BTC herself.
February. the corporate owns 18,000 miners, 13,000 self-employed miners, 5,000 everlasting miners and 60 MW of energy. From 2022 December. by February, TeraWulf elevated its mining hashrate to 2.6 EH/s from 1.4 EH/s, an 86% enhance.
All through 2022 TeraWulf reported $91.6 million. a web lack of USD 95.7 million, displaying constructive sentiment.
TeraWulf
In early March, the corporate launched its personal nuclear-powered mining rig, which diminished vitality prices by 50%. In TeraWulf’s annual report, the corporate’s CEO Paul Prager famous that the corporate made a number of efforts to realize could be “an unique mine for low-cost, carbon-neutral bitcoins.”
Earlier in March, the corporate additionally introduced the completion of a public providing that raised slightly below $18 million. In accordance with the subsequent February In an announcement, the corporate additionally mentioned it had restructured its debt with current lenders by way of 2024. in April
