TeraWulf Shares Down After Decline in Bitcoin Production Dents 4Q Revenue
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By Amira McKee
Shares of TeraWulf slid after the company posted weaker revenue on lower bitcoin mining production and prices.
The stock fell 12% to $15.79 in Friday afternoon trading. The shares, which hit a three-year high of $18.51 on Wednesday, have more than quadrupled in the past year.
After the close on Thursday, the bitcoin mining company reported fourth-quarter digital asset revenue of $26.1 million, down 40% from $43.4 million in the third quarter, on lower bitcoin production and price. The drop was partially offset by 35% growth in high-performance computing lease revenue to $9.7 million from $7.2 million.
Both missed Wall Street's forecast for digital asset revenue of $32.3 million and high-performance computing lease revenue of $11.4 million, according to FactSet.
Terawulf logged a full-year net loss of $661.4 million, or $1.66 a share, compared with a loss of $72.4 million, or 21 cents a share, a year earlier.
Full-year revenue grew 20% to $168.5 million, below the $177.7 million that analysts polled by FactSet were expecting.
Write to Amira McKee at amira.mckee@wsj.com
source: https://www.tradingview.com/news/DJN_DN20260227009679:0/