Bitcoin mining company TeraWulf raised $17 million in the third quarter of 2022.
Bitcoin mining company TeraWulf raised $17 million in the third quarter of 2022. But its liquidity remained low at $4.5 million, at press time. TeraWulf released its financial results for Q3 (July- September 2022) yesterday (14 November) evening and revealed the details.
Out of $17 million, $9.5 million is a part of equity raised from existing investors and $7.5 million comes from the incremental proceeds under the company’s term loan.Revenue in Q3 increased 179% to $3.9 million compared to $1.4 million in Q2. The cost of revenue as a percentage of revenue during Q3 increased to 134% compared to 43% in Q2; the rise can be attributed to relatively higher.
Source
t.me/Mining_Crypto_Miner
