TeraWulf reports wider Q1 loss as shares edge higher
Updated
Updated · Barron's · May 8
TeraWulf reports wider Q1 loss as shares edge higher
11 articles · Updated · Barron's · May 8
The bitcoin miner turned data-centre operator lost $1.01 a share on $34 million revenue, versus a 16-cent loss a year earlier and a 20-cent analyst forecast.
High-performance compute leases generated $21 million, topping Wall Street estimates, as TeraWulf advanced an upstate New York campus with Google and Fluidstack; UAE-based Core42 already leases 60 megawatts there.
The stock rose 0.5% premarket and is up 109% this year as investors back its AI-compute pivot, part of a wider shift by crypto miners seeking steadier contracted revenue.
Can TeraWulf's AI pivot justify its 700% stock surge despite widening losses and insider selling?
Is Google's multi-billion dollar backing of ex-miners a secret weapon in the race for AI dominance?
As Bitcoin miners pivot to AI for higher profits, who will be left to secure the Bitcoin network?