Below are the financial statements of Terawulf, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
| All figures in millions of USD | 2024 | 2023 | 2022 |
|---|---|---|---|
| Revenue | 140.05a | 69.23a | 15.03a |
| Costs and expenses | — | — | — |
| Cost of revenue (exclusive of depreciation shown below) | -62.61a | -27.32a | -11.08a |
| Operating expenses | -3.39a | -2.12a | -2.04a |
| Operating expenses - related party | -4.26a | -2.77a | -1.25a |
| Selling, general and administrative expenses | -57.88a | -23.69a | -22.77a |
| Selling, general and administrative expenses - related party | -12.7a | -13.33a | -13.28a |
| Depreciation | -59.81a | -28.35a | -6.67a |
| Gain on fair value of digital currency, net | -2.2a | 0a | 0a |
| Realized gain on sale of digital currency | 0a | -3.17a | -0.57a |
| Impairment of digital currency | 0a | -3.04a | -1.46a |
| Loss on disposals of property, plant, and equipment, net | -17.82a | -1.21a | 0a |
| Loss on nonmonetary miner exchange | 0a | 0a | -0.8a |
| Total costs and expenses | -216.27a | -98.65a | -58.78a |
| Operating loss | -76.22a | -29.42a | -43.75a |
| Interest expense | -19.79a | -34.81a | -24.68a |
| Loss on extinguishment of debt | -6.3a | 0a | -2.05a |
| Other income | 3.93a | 0.23a | 0a |
| Loss before income tax and equity in net income (loss) of investee | -98.38a | -64a | -70.48a |
| Income tax benefit | 0a | 0a | 0.26a |
| Equity in net income (loss) of investee, net of tax | 3.36a | -9.29a | -15.71a |
| Gain on sale of equity interest in investee | 22.6a | 0a | 0a |
| Loss from continuing operations | -72.42a | -73.29a | -85.93a |
| Loss from discontinued operations, net of tax | 0a | -0.13a | -4.86a |
| Net loss | -72.42a | -73.42a | -90.79a |
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