Bitcoin miner TeraWulf falls after Q1 results miss
** TeraWulf's WULF.O shares down 9.8% at $2.02, about a 1-mth low, on Tues after bitcoin mining firm's qtrly results missed estimates
** Co late Mon reported Q1 loss of ~$9.9 mln, or 3 cents/sh, while LSEG consensus called for profit of $8.7 mln, or 4 cents/sh
** Rev in qtr of $42.4 mln up from $11.5 mln a year ago, though below Street view of $46.3 mln
** Co said it self-mined 1,057 bitcoin during qtr for total self-mined value of $56.8 mln compared to $35.2 mln in prior qtr
** Rev increase in Q1 due to significant growth in operating self-mining hashrate along with higher avg bitcoin price relative to Q4 2023, co said
** Bitcoin hashrate is a measure of the computational power needed to mine a coin
** With move on the session, WULF down ~15% YTD
** Meanwhile, Bitcoin BTC=, world's biggest cryptocurrency, currently down 1.9% to $61,878, trimming 2024 gain to ~45%
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
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