Financial Wire

TeraWulf Preliminary Q1 Revenue Misses Estimates; $800 Million Stock Offering Planned

-- TeraWulf (WULF) reported preliminary Q1 revenue late Tuesday of $30 million to $35 million and adjusted EBITDA of breakeven to $3 million.

Analysts polled by FactSet expect revenue of $37.5 million and EBITDA of $7.6 million.

Separately, the company announced an $800 million offering of common shares with underwriters granted a 30-day option to buy up to an additional $120 million in stock.

Net proceeds will be used in part to finance a portion of the construction of a data center at its site in Hawesville, Kentucky.

TeraWulf shares fell 7.3% in after-hours trading.

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