2024-05-14 07:00:00 ET
Summary
- TeraWulf reported $42.4 million in mining revenue during the first quarter, up 268% over the prior year.
- Despite the growth in revenue and gross margin, WULF missed analyst expectations for $0.03 EPS and reported another quarterly net loss.
- With Bitcoin halving in the rearview mirror, TeraWulf is now talking about building out HPC services as a secondary revenue stream.
When I last covered TeraWulf ( WULF ) in January of this year, I left readers with a thought about the setup for the company following the now-passed April block reward halving for Bitcoin ( BTC-USD ). Specifically, I hypothesized what the longer-term prospects could be for a middle-of-the-pack producer with no BTC stack to speak of:
please keep in mind that without transaction fees remaining elevated, the economics of Bitcoin mining are difficult and potentially lead to consolidation. That could theoretically make WULF a target or merger candidate post-halving, but that's purely speculation on my part.
Read the full article on Seeking Alpha
For further details see:
TeraWulf Q1 Earnings: Not A Great Quarter