01:16 PM EDT, 03/20/2024 (MT Newswires) -- (Updates with stock price movement in the headline and first paragraph)

TeraWulf ( WULF ) shares surged 23% in recent trading on Wednesday, a day after the company posted 2023 financial results.

The company reported a 2023 net loss Tuesday of $0.35 per diluted share, compared with the loss of $0.82 a year earlier.

Analysts polled by Capital IQ expected a loss of $0.34.

Revenue in the year ended Dec. 31 jumped to $69.2 million from $15 million a year earlier. Analysts surveyed by Capital IQ expected $69 million.

Price: 2.12, Change: +0.40, Percent Change: +23.42