PANews reported on August 9th that, according to The Block, Bitcoin mining company TeraWulf's second-quarter financial report showed that its net loss widened to over $79 million in the first half of this year due to continued investment in high-performance computing and mining operations. Operating costs (minus depreciation) were approximately $22 million, a quarter-over-quarter increase from $13.9 million in the second quarter of 2024. Its stock price is currently down nearly 4% after opening up nearly 3%.

“TeraWulf will continue to execute on its strategy to develop scalable, sustainable digital infrastructure to support high-performance computing hosting and proprietary Bitcoin mining,” said Paul Prager, CEO of TeraWulf.