Bitcoin mining firm TeraWulf raised $17M of capital in Q3, but cash reserves remain low

2022/11/15 02:40

According to Coindesk, bitcoin mining company TeraWulf (WULF) raised $17 million in capital in the third quarter, but its liquidity remains at $4.5 million, according to a statement on its third quarter earnings released after the market close on Monday. The Monday statement said that $138.5 million of principal under the term loan was outstanding at the end of the quarter. TeraWulf's costs of revenue increased dramatically in the quarter as energy prices in New York State, where it mainly operates, soared while it increased its energy demand with new operations. The miner paid 134% in costs per dollar of revenue, compared to 43% in Q2.

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