TeraWulf reported the average price of Bitcoin during Q3 was $114,390, compared to only $61,023 for the same period last year.
United States-based Bitcoin mining company TeraWulf nearly doubled its third-quarter revenue this year as the price of Bitcoin grew significantly from a year ago, along with expanded mining capacity and new income from its AI business.
Revenue for the third quarter increased 87% year-over-year to $50.6 million, with “digital asset revenue” making up $43.4 million, according to TeraWulf’s Q3 earnings report on Monday.
In Q1, the company had reported a net loss, and in Q2, the miner’s revenue increased 34% year-over-year to $47.6 million.
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