Bitcoin mining company TeraWulf produced 994 BTC in the third quarter
TeraWulf, a Bitcoin mining company, released its third-quarter financial report, which showed that its self-mining business produced 994 BTC, an increase of 9.5% compared to the second quarter; revenue was $19 million, an increase of 22.6% compared to the previous quarter; it is expected to use the cash generated in the third quarter to repay about $7 million in debt, of which $5.5 million will be repaid in October 2023; the gross profit for the third quarter increased to $10.7 million, while it was $10.3 million in the second quarter.
As of September 30, TeraWulf's total installed computing power capacity was 5.5 EH/s, an increase of 267% compared to the same period last year; the average operating computing power was 4.8 EH/s. TeraWulf announced the purchase of 18,500 Antminer S19j XP Bitcoin mining machines, with a total price of $75.4 million, of which $53.4 million has been prepaid. (Globenewswire)
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