TERAWULF INC
For the period ended Dec 31, 2024. Filed Mar 3, 2025.
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FY2024 · Filed Mar 3, 2025
WULF$12.56+1.5%Stored close · as of Nov 10, 2026
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Consolidated Statements of Operations for the years ended
(In thousands, except number of shares and loss per common share)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Revenue | $140,051 | $69,229 | $15,033 |
| Costs and expenses: | |||
| Cost of revenue (exclusive of depreciation shown below) | 62,608 | 27,315 | 11,083 |
| Operating expenses | 3,387 | 2,116 | 2,038 |
| Operating expenses — related party | 4,262 | 2,773 | 1,248 |
| Selling, general and administrative expenses | 57,883 | 23,693 | 22,770 |
| Selling, general and administrative expenses — related party | 12,695 | 13,325 | 13,280 |
| Depreciation | 59,808 | 28,350 | 6,667 |
| Gain on fair value of digital currency, net | (2,200) | — | — |
| Realized gain on sale of digital currency | — | (3,174) | (569) |
| Impairment of digital currency | — | 3,043 | 1,457 |
| Loss on disposals of property, plant, and equipment, net | 17,824 | 1,209 | — |
| Loss on nonmonetary miner exchange | — | — | 804 |
| Total costs and expenses | 216,267 | 98,650 | 58,778 |
| Operating loss | (76,216) | (29,421) | (43,745) |
| Interest expense | (19,794) | (34,812) | (24,679) |
| Loss on extinguishment of debt | (6,300) | — | (2,054) |
| Other income | 3,927 | 231 | — |
| Loss before income tax and equity in net income (loss) of investee | (98,383) | (64,002) | (70,478) |
| Income tax benefit | — | — | 256 |
| Equity in net income (loss) of investee, net of tax | 3,363 | (9,290) | (15,712) |
| Gain on sale of equity interest in investee | 22,602 | — | — |
| Loss from continuing operations | (72,418) | (73,292) | (85,934) |
| Loss from discontinued operations, net of tax | — | (129) | (4,857) |
| Net loss | $(72,418) | $(73,421) | $(90,791) |
| Loss per common share: | |||
| Continuing operations | $(0.21) | $(0.35) | $(0.78) |
| Discontinued operations | — | — | (0.04) |
| Basic and diluted | $(0.21) | $(0.35) | $(0.82) |
| Weighted average common shares outstanding: | |||
| Basic and diluted | 351,315,476 | 209,956,392 | 110,638,792 |
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