PANews reported on May 10 that according to Cointelegraph, Bitcoin mining company TeraWulf announced its first quarter financial report for 2025, with a net loss of $61.4 million, far higher than the $9.6 million in the same period last year. The company's revenue fell year-on-year to $34.4 million, while revenue costs rose to $24.5 million, accounting for 71.4%, more than double the 34% in the same period last year. TeraWulf attributed the decline in revenue to the halving of Bitcoin and the increase in network difficulty; in addition, the severe weather in New York State also affected its mine operations.