TeraWulf, a mining company, reported a net loss of $61.4 million in the first quarter, accounting for 71.4% of its revenue cost income

According to Cointelegraph, Bitcoin mining company TeraWulf announced its Q1 2025 financial report, with a net loss of $61.4 million, significantly higher than the $9.6 million reported in the same period last year. The company's revenue decreased year-on-year to $34.4 million, while revenue costs rose to $24.5 million, accounting for 71.4%, more than double the 34% in the same period last year. TeraWulf attributed the decrease in revenue to the halving of Bitcoin and the increase in network difficulty; In addition, the severe weather in New York State has also affected its mining operations.