[TeraWulf Reports $427 Million Net Loss in Q1, AI Computing Revenue Surpasses Bitcoin Mining] According to Decrypt, Bitcoin mining company TeraWulf has released its Q1 financial report, showing a net loss of $427 million, compared to a $61.4 million loss in the same period last year. The company reported $34 million in revenue, 60% of which (approximately $21 million) came from AI computing operations, marking a 117% quarter-over-quarter increase. Meanwhile, Bitcoin mining revenue dropped 50% quarter-over-quarter to approximately $13 million. The CEO stated that the first quarter was a year of execution, with the company having established a complete platform and now transitioning its foundation into operational performance and recurring revenue. TeraWulf CFO Patrick Fleury noted that the company is shifting toward a more stable contracted revenue model to reduce reliance on Bitcoin mining volatility. The company will continue reallocating part of its Bitcoin mining operations to support higher-value, high-performance computing workloads.