Bitcoin mining company TeraWulf on Friday morning reported fourth quarter 2024 results, with full-year revenue up 102% to $140.10 million from $69.20 million in 2023, driven by increased bitcoin production and higher bitcoin average realized prices. TeraWulf said its legacy term loan debt was eliminated in 2024, compared to $139.40 million at the end of 2023. TeraWulf nearly doubled its GAAP-adjusted EBITDA (pre-tax profit, depreciation and amortization expense) from $31.90 million in 2023 to $60.40 million in 2024. The company reported cash and cash equivalents of $274.10 million as of December 31, 2024. As of Dec. 31, TeraWulf had $274.50 million in cash, cash equivalents, and bitcoin on its balance sheet, with the amount of BTC held nearly quadrupling to 1,801 BTC.