NASDAQ$WULF
Terawulf Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
TeraWulf reported an increase in revenue and hashrate capacity, achieving significant growth in Bitcoin mining operations.
TeraWulf Inc. announced its Q1 2023 financial results, with revenue of $11.5 million and 533 Bitcoin self-mined. The company increased its hashrate capacity by 65% to 3.3 EH/s as of March 31, 2023, and commenced mining at the Nautilus Cryptomine. TeraWulf is expanding mining operations at its Lake Mariner facility and expects to have a total operational capacity of 5.5 EH/s in Q2 2023.
- Increased hashrate capacity by 65% in Q1 2023, reaching 3.3 EH/s as of March 31, 2023.
- Self-mined 533 Bitcoin in Q1 2023, a 38% increase compared to Q4 2022.
- Revenue per Bitcoin produced increased by 28% in Q1 2023.
- Power cost per Bitcoin declined by 21% in Q1 2023.
Headline financials
Revenue & EPS history
Terawulf · Revenue · Quarterly
$11.5M
Forward guidance
TeraWulf expects to have a total operational capacity of 5.5 EH/s in Q2 2023, across its two sites, representing approximately 160 MW of net mining infrastructure.
Tailwinds
- Building 2 at Lake Mariner is expected to increase the facility's operational capacity from 60 MW to 110 MW in Q2 2023.
- The Company has the ability to expand mining capacity at Lake Mariner by an additional 80 MW, for a total of 190 MW, in the near term.
- TeraWulf's stake in phase one of the Nautilus facility – 50 MW and 1.9 EH/s – was fully energized as of April 20, 2023.
- TeraWulf has the option to add an additional 50 MW of Bitcoin mining capacity at Nautilus, for a total of 100 MW.
- The Company expects to have a total operational capacity of 50,000 miners (5.5 EH/s) in Q2 2023.
Headwinds
- The Company plans to deploy the additional 50 MW at Nautilus in future phases pending capital availability.
- Forward-looking statements are subject to risks and uncertainties, including conditions in the cryptocurrency mining industry.
- The ability to implement certain business objectives and to timely and cost-effectively execute integrated projects is uncertain.
- Failure to obtain adequate financing on a timely basis and/or on acceptable terms with regard to growth strategies or operations is a risk.
- Potential differences between the unaudited results disclosed in this release and the Company’s final results are possible.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
-1.0%
Avg return
Earnings day
-3.2%
Avg return
5 days after
+1.0%
Avg return
30 days after
29%
18 / 63 earnings
Positive
+51.9%
Q4 2013
Best reaction
-24.4%
Q2 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.7% | -3.8% | -0.2% | |
| Q4 2025 | -9.2% | -14.0% | -16.7% | |
| Q3 2025 | -13.6% | -23.1% | +10.7% | |
| Q1 2025 | -9.1% | +10.9% | +31.8% | |
| Q4 2024 | +16.1% | +2.8% | -24.7% | |
| Q3 2024 | -16.7% | -18.6% | -14.6% | |
| Q2 2024 | -12.7% | +6.3% | +16.6% | |
| Q1 2024 | -8.5% | -12.6% | +72.2% | |
| Q4 2023 | +34.7% | +42.2% | +23.1% | |
| Q3 2023 | -1.9% | +8.2% | +66.3% | |
| Q2 2023 | -9.4% | -22.7% | -32.2% | |
| Q1 2023 | -1.9% | -2.5% | -13.1% | |
| Q4 2022 | +20.5% | +23.1% | +128.2% | |
| Q3 2022 | +7.8% | -16.5% | -43.5% | |
| Q2 2022 | -24.4% | -26.9% | -39.9% | |
| Q1 2022 | -1.5% | -10.7% | -40.7% | |
| Q4 2021 | -3.2% | -4.6% | -55.3% | |
| Q3 2021 | -4.1% | -1.0% | +46.7% | |
| Q2 2021 | +5.6% | +3.9% | +22.9% | |
| Q1 2021 | +0.8% | +3.1% | -3.7% | |
| Q4 2020 | -18.3% | -28.1% | -22.0% | |
| Q3 2020 | -6.7% | -19.0% | +8.4% | |
| Q2 2020 | +3.5% | +2.2% | -5.6% | |
| Q1 2020 | +1.4% | +4.1% | -2.0% | |
| Q4 2019 | -7.0% | -6.2% | -38.4% | |
| Q3 2019 | -4.4% | -6.0% | -10.8% | |
| Q2 2019 | -9.1% | -9.0% | -13.8% | |
| Q1 2019 | -7.0% | -6.3% | -1.4% | |
| Q4 2018 | +4.5% | +2.0% | +0.9% | |
| Q3 2018 | +0.0% | -6.3% | +5.1% | |
| Q2 2018 | +0.5% | -7.8% | +6.6% | |
| Q1 2018 | -3.8% | -4.4% | +7.2% | |
| Q4 2017 | +16.5% | +30.1% | +10.6% | |
| Q3 2017 | -3.0% | -1.1% | -6.4% | |
| Q2 2017 | -2.4% | -1.9% | -6.8% | |
| Q1 2017 | -6.1% | -6.8% | -14.4% | |
| Q4 2016 | -1.5% | -1.9% | -6.1% | |
| Q3 2016 | -0.2% | -0.7% | +10.2% | |
| Q2 2016 | +0.0% | -0.3% | -15.6% | |
| Q1 2016 | +4.5% | — | — | |
| Q4 2015 | -0.7% | — | — | |
| Q3 2015 | -3.8% | — | — | |
| Q2 2015 | -8.9% | — | — | |
| Q1 2015 | -4.1% | — | — | |
| Q4 2014 | -7.2% | — | — | |
| Q3 2014 | -7.7% | — | — | |
| Q2 2014 | -0.6% | — | — | |
| Q1 2014 | -10.1% | — | — | |
| Q4 2013 | +51.9% | — | — | |
| Q3 2013 | -2.9% | — | — | |
| Q2 2013 | -5.7% | — | — | |
| Q1 2013 | +0.5% | — | — | |
| Q4 2012 | +17.6% | — | — | |
| Q3 2012 | -6.5% | — | — | |
| Q2 2012 | +0.0% | — | — | |
| Q1 2011 | -0.4% | — | — | |
| Q1 2012 | +0.0% | — | — | |
| Q4 2011 | +0.0% | — | — | |
| Q3 2011 | -8.8% | — | — | |
| Q3 2010 | -8.8% | — | — | |
| Q2 2010 | +5.0% | — | — | |
| Q2 2011 | +5.0% | — | — | |
| Q4 2010 | +5.0% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro