TeraWulf reported a significant 87% increase in Q3 2024 revenue, reaching $50.6 million, primarily driven by its bitcoin mining operations and expansion into AI and high-performance computing (HPC) services. The company generated $43.38 million from bitcoin mining and $7.2 million from AI and HPC services. TeraWulf concluded the quarter with $712.8 million in cash reserves and secured over $5 billion in long-term financing to support its expansion plans. The company is enhancing its HPC infrastructure through strategic leases and joint ventures, including $6.7 billion in 10-year agreements with Fluidstack, supported by Google.