Bitcoin mining company TeraWulf's revenue increased by 102% year-on-year in 2024 to $140 million, holding 1,801 BTC

The Bitcoin mining company TeraWulf announced its fourth quarter results for 2024 on Friday morning. Driven by an increase in Bitcoin production and a rise in the average realized price of Bitcoin, annual revenue grew 102% from $69.2 million in 2023 to $140.1 million. TeraWulf stated that its legacy term loan debt was eliminated in 2024, which stood at $139.4 million at the end of 2023. TeraWulf's GAAP adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) nearly doubled 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.
As of December 31st,TeraWulf had cash,cash equivalents,and bitcoin totaling$274 .5million on its balance sheet.The number of BTC held almost doubled,reaching1801BTC.