Employees were told to expect the layoffs as the CEO struggles to steer the crypto company back to profitability.
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United States-based Bitcoin mining company TeraWulf nearly doubled its third-quarter revenue this year thanks to price growth in Bitcoin, as well as an expansion in mining capacity and new income from its AI business. Revenue for the third quarter increased 87% year-over-year to $50.6 million, with “digital asset revenue” making up $43.4 million, according to TeraWulf’s Q3 earnings report on Monday. In Q1, the company had reported a net loss, and in Q2, the miner’s revenue increased 34% year-over-year to $47.6 million. “These increases were… Source link
After the announcement, Iren raised its 2026 annual recurring revenue guidance from US$500 million to US$3.4 billion. Source link
The company reported Q3 net profit of US$56.8 million, up from US$38.5 million a year earlier. Source link
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