Bitcoin Miner Increased Revenues, Share Price Increased 20 Percent!

The increase in the shares of Bitcoin (BTC) miner TeraWulf attracted attention.

According to the report submitted by TeraWulf, the company produced 186 Bitcoins in May. The company's average daily Bitcoin production amount was recorded as 6.

Following the positive data announced, the company's shares increased by more than 20% in the last trading day. WULF price increased from $2.06 to $2.49.

TeraWulf emphasized that its installed and operational mining capacity reached approximately 8.0 EH/s, representing an increase of 82% compared to the previous year.

There was a decrease in production after the Bitcoin halving

On the other hand, it was observed that TeraWulf experienced a 25% production decrease compared to the previous month after the halving. However, this data was considered more acceptable compared to the 42% decline of rival companies such as Bitfarms.

The Bitcoin halving increased the reward given to miners and led to a more competitive environment. Many smaller Bitcoin miners were forced to pull out after the halving.

TeraWulf Senior Vice President of Operations Sean Farrell included the new generation mining devices in his statement on the subject:

The Lake Mariner team is making significant progress on Building 4, which is scheduled to be completed in June and will house approximately 10,000 of Bitmain's latest generation S21 and S21 Pro miners.