Terawulf Inc. Increases Revenue by 15%

By Tamara Parker • Thursday, December 26 15:23 • Permanent Link

Terawulf Inc (WULF US Equity) recently announced its plans to deliver over 70 MW of data center infrastructure for G42's US operations. During the investor update call, Terawulf's leadership team provided insights into the company's performance and future prospects. Here are some key highlights from the call:

Terawulf's Chief Financial Officer, Patrick Fleury, revealed that the company's revenue had increased by 15% compared to the previous quarter, reaching $50 million.
The company's Chief Operating Officer and Chief Technology Officer, Nazar Khan, highlighted a significant improvement in EBITDA margin, which expanded to 25% from the previous quarter's 20%.
Kerri Langlais, the Chief Strategy Officer, announced that Terawulf's customer base had grown by 10% in the last quarter, with several new high-profile clients coming on board.
Paul Prager, the Chairman and Chief Executive Officer, emphasized the company's successful cost optimization efforts, leading to a 12% reduction in operating expenses compared to the previous quarter.

These metrics indicate a positive trend for Terawulf Inc, showcasing growth in revenue, improved profitability, an expanding customer base, and effective cost management. The company's strategic initiatives seem to be yielding favorable results, positioning Terawulf for continued success in the data center infrastructure market. Today the company's shares have moved -2.1% to a price of $6.1. For more information, read the company's full 8-K submission here.

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