The mining company Terawulf reported a net loss of around USD 61.4 million in its earnings for the first quarter of 2025, moreover, deteriorating from the same period last year.
Revenues dropped to USD 34.4 million from USD 42.4 million in the same period of 2024, according to the company’s earnings reportPosted on May 9. The cost of revenues increased rapidly to $ 24.5 million, compared to USD 14.4 million a year earlier.
As a result, the cost of revenues by Terawulf accounted for 71.4% of the total income from surgery in the second century 2025, more than twice as much than 34% was recorded in the quarter of the previous year. In the first quarter of 2024, the company recorded a net loss of USD 9.6 million.
Terawulf assigned the reduced revenues of Bitcoin economics (BTC), which reduced the block subsidy from 6.25 BTC to a block extracted to 3.125 BTC at the block extraction, growing network difficulties and tough weather conditions in the Up-to-date York area of Up-to-date York, in which Tewulf is located.
The company is not alone in publishing losses in this quarter, because the already competitive mining industry is in the face of a reduced block prize and macroeconomic uncertainty of geopolitical commercial tensions that caused confusion for financial markets and companies.
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Miners hit by commercial tariffs, high uncertainty
Trade tariffs introduced by US President Donald Trump raised concerns among mining companies and analysts that import duties will boost the costs of equipment and other physical infrastructure necessary to launch cryptographic nodes.
Imposing tariffs on mining equipment, such as integrated circuits specific to the application (ASICS), will provide miners outside the United States in relation to competitors based in the USA in the US in obtaining the necessary critical equipment.
As a result of ongoing tariff negotiations, miners sold 40% of the BTC mined in March 2025, reversing the tendency after the selection of miners collecting BTC for corporate treasures or reserves.
The sale of March was the highest month of liquidation of MINER BTC from October 2024-a month before the presidential election in the US in 2024, which was basic for the cryptographic industry and represented high uncertainty for companies and investors.
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