Bitcoin mining company TeraWulf has released its Q2 financial report. The report states that as of June 30, 2023, the hashrate increased by 67% in Q2 2023, reaching 5.5 EH/s. In Q2 2023, 908 Bitcoins were produced, a growth of 70% compared to Q1 2023. In Q2 2023, the income generated per Bitcoin increased by 21%, while the electricity cost per Bitcoin decreased by 15%. In addition, the revenue in Q2 2023 increased to $15.5 million, compared to $11.5 million in Q1 2023. Gross profit increased from $6.5 million in Q1 2023 to $10.3 million in Q2 2023, and gross profit margin increased from 57% in Q1 2023 to 67% in Q2 2023, an 18% increase.
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