Firm Firm Terawulf reported a net loss of approximately $ 61.4 million in its revenues for the first quarter of 2025, which worsened from the same period last year.
Income fell to $ 34.4 million from $ 42.4 million in the same period of 2024, according to company income ReportNa -Published May 9. The cost of income increased dramatically to $ 24.5 million, from $ 14.4 million a year before.
As a result, the terawulf revenue costs 71.4% of total income from Q1 2025 operations, more than double 34% recorded in the previous year quarter. In Q1 2024, the company posted a net loss of $ 9.6 million.
Terawulf stated reduced income in Bitcoin (Btc) Post-halving economic That reduced the subsidy of the block from 6.25 BTC per block mined to 3.125 BTC per block mine, increased network difficulty, and extreme weather in the upstate New York area of a Terawulf mining facility.
The company does not unite in posting losses for the quarter, as the restored mining industry faces reduced block rewards and the macroeconomic uncertainty of geopolitical trade tensions that have Created chaos for financial markets and businesses alike.
Related: Riot platforms post Q1 loss, income estimates
Miners were hit by trade tariffs, high uncertainty
The trading tariffs US president Donald Trump has introduced Reconcuded with mining and analyst companies that import duties Drive hardware costs and other physical infrastructure needed to run crypto nodes.
Imposing hardware mining tariffs such as application-specific integrated circuit (ASIC) will also provide miners outside the United States A Price Advantages to US -based competitors in obtaining the critical equipment required.
As a result of ongoing tariff negotiations, Miners sold 40% of their mined BTC In March 2025, the reversing of the post-halving trend of miners who accumulate BTC for corporate treasury or reserves.
March’s sell-off is the highest month for BTC avoidance since October 2024-the month earlier in the 2024 US presidential election, which has been important for the crypto industry and represents high uncertainty for businesses and investors.
Related: The illegal arcade was identified as … a fake bitcoin mine? Soldier Scam in China: Asia Express
