TeraWulf Inc. ( WULF ) reported its third-quarter results after Tuesday's closing bell. Here's a look at the details from the report.  

The Details: TeraWulf ( WULF ) reported quarterly GAAP losses of six cents per share, which missed the analyst consensus estimate for losses of three cents. Quarterly revenue came in at $27.05 million, which missed the analyst consensus estimate of $34.27 million and is an increase over sales of $18.95 million from the same period last year.

TeraWulf ( WULF ) self-mined 555 Bitcoin (CRYPTO: BTC) across the Lake Mariner and Nautilus Cryptomine facilities, which represented a 43.4% decrease relative to the same quarter last year.

Total value of Bitcoin self-mined was $33.9 million compared to $27.6 million in the prior year’s quarter.

Power cost per Bitcoin self-mined increased year-over-year, to $30,448 per Bitcoin, up from $9,322 per Bitcoin in the third-quarter of 2023 due to an approximate doubling in network difficulty and the Bitcoin reward halving in April 2024.

Total self-mining hashrate capacity of 10.0 EH/s as of Sept. 30, 2024, represents an increase of 100% relative to the same prior year period.

Read Next: Bitcoin Miners Hive Digital, Hut 8, Bitfarms To Report Earnings As Future Of Crypto ‘Has Never Been Brighter’

“The third quarter and the beginning of the fourth quarter marked a pivotal turning point for TeraWulf ( WULF ), as we delivered strong results across our strategic, financial, and operational objectives,” said Paul Prager, chairman and CEO of TeraWulf ( WULF ).

“The sale of our interest in the Nautilus joint venture not only generated a substantial return but also sharpened our focus on scaling high-performance computing at Lake Mariner. Securing an expanded ground lease with exclusive rights to 750 MW of infrastructure capacity is a significant milestone in our growth strategy. Combined with the success of our $500 million capital raise, we are exceptionally well-positioned to seize new opportunities in both Bitcoin mining and HPC hosting as we enter 2025,” Prager added.

WULF Price Action: According to Benzinga Pro, TeraWulf ( WULF ) shares are down 3.51% after-hours at $8.23 at the time of publication Tuesday.

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