Mining company TeraWulf's revenue in 2024 increased by 102% year-on-year, reaching 140 million dollars

According to ChainCatcher, TeraWulf, a Bitcoin mining company, reported its fourth-quarter performance for 2024, showing that its annual revenue increased by 102% from $69.2 million in 2023 to $140.1 million, driven by an increase in Bitcoin production and a rise in the average realized price of Bitcoin. TeraWulf stated that its legacy term loan debt was eliminated in 2024, which was $139.4 million at the end of 2023. TeraWulf's GAAP adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) nearly doubled, rising from $31.9 million in 2023 to $60.4 million in 2024. As of December 31, 2024, the company reported cash and cash equivalents of $274.1 million, with $274.5 million in cash, cash equivalents, and Bitcoin on its balance sheet, and the amount of BTC held nearly quadrupled to 1,801 BTC.