TERAWULF INC
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 12, 2024
WULF$12.56+1.5%Stored close · as of Nov 10, 2026
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Consolidated Statements of Operations for the months ended and
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2024 AND 2023
(In thousands, except number of shares and loss per common share; unaudited)
| Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenue | $27,059 | $18,955 | $105,066 | $45,944 |
| Costs and expenses: | ||||
| Cost of revenue (exclusive of depreciation shown below) | 14,660 | 8,268 | 42,986 | 18,383 |
| Operating expenses | 729 | 442 | 2,311 | 1,218 |
| Operating expenses – related party | 856 | 779 | 2,619 | 2,015 |
| Selling, general and administrative expenses | 8,502 | 5,767 | 29,904 | 18,137 |
| Selling, general and administrative expenses – related party | 2,976 | 4,519 | 8,399 | 10,093 |
| Depreciation | 15,643 | 8,224 | 44,864 | 20,085 |
| Gain on fair value of digital currency, net | (951) | — | (1,580) | — |
| Realized gain on sale of digital currency | — | (697) | — | (1,883) |
| Impairment of digital currency | — | 922 | — | 2,231 |
| Impairment of property, plant, and equipment | 355 | — | 355 | — |
| Loss on disposals of property, plant, and equipment | — | 420 | — | 420 |
| Total costs and expenses | 42,770 | 28,644 | 129,858 | 70,699 |
| Operating loss | (15,711) | (9,689) | (24,792) | (24,755) |
| Interest expense | (409) | (10,251) | (16,779) | (25,535) |
| Loss on extinguishment of debt | (4,273) | — | (6,300) | — |
| Other income | 339 | 59 | 1,286 | 113 |
| Loss before income tax and equity in net income (loss) of investee | (20,054) | (19,881) | (46,585) | (50,177) |
| Income tax benefit | — | — | — | — |
| Equity in net income (loss) of investee, net of tax | (2,679) | 850 | 3,363 | (12,613) |
| Loss from continuing operations | (22,733) | (19,031) | (43,222) | (62,790) |
| Loss from discontinued operations, net of tax | — | (68) | — | (106) |
| Net loss | (22,733) | (19,099) | (43,222) | (62,896) |
| Preferred stock dividends | (300) | (272) | (878) | (796) |
| Net loss attributable to common stockholders | $(23,033) | $(19,371) | $(44,100) | $(63,692) |
| Loss per common share: | ||||
| Continuing operations | $(0.06) | $(0.09) | $(0.13) | $(0.32) |
| Discontinued operations | — | — | — | — |
| Basic and diluted | $(0.06) | $(0.09) | $(0.13) | $(0.32) |
| Weighted average common shares outstanding: | ||||
| Basic and diluted | 382,086,768 | 221,718,367 | 337,999,865 | 199,259,314 |
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